Dynex Capital(US:DX)2023-07-24 13:40Financial Performance - The company reported a comprehensive income to common shareholders of $42971000 or $0.79 per share for Q2 2023[11], compared to a loss of $28852000 or $(0.54) per share in Q1 2023[150] - The company's book value per share as of June 30, 2023, was $14.20[119] - The company declared dividends of $0.39 per share for Q2 2023[119] - The annualized dividend yield as of July 20, 2023, was 12.42%[119] Portfolio Composition and Strategy - As of June 30, 2023, over 95% of the company's investments were comprised of Agency RMBS[122] - The company's RMBS portfolio totaled $7236491000, with $5060491000 in Agency RMBS and $2176000000 in TBA[17] - The company's CMBS and CMBS IO portfolio totaled $325003000, representing 4.3% of the total portfolio[139] - The weighted average repo borrowing rate for Q2 2023 was 5.18%, increasing by 57 basis points from Q1 2023[147] Market Dynamics and Outlook - The company believes agency RMBS offers generationally attractive returns due to the Fed's exit and bank portfolio sales[121] - The company anticipates agency MBS spreads to trade in a range at wider levels, with further widening during periods of volatility[89] - The company is positioned for a general rise in macroeconomic and market volatility with high levels of liquidity and a flexible position[86]