Dynex Capital Q1 net loss $0.81/sh, book value falls to $13.80 from $14.73

DYNEX CAPITAL INC

2023-Q1 EPS reported -$0.81

Comprehensive loss of $(0.54) per common share; net loss $(0.81) per share.
Book value per common share $13.80, down $0.93 from Dec 31, 2022 due to banking sector turmoil.
Net interest expense $(0.5)M vs prior-quarter net interest income $6.2M; leverage rose to 7.8x.
Liquidity >$554M in cash and unencumbered assets; dividends declared $0.39/common share.
Realized $89M in interest rate hedge gains in Feb 2023, but fair value losses on hedges drove overall loss.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DYNEX CAPITAL INC reported the quarter ended March 31, 2023 results: EPS $(0.81) per common share.

Period: the quarter ended March 31, 2023
EPS: $(0.81) per common share
Result: reported results

Exact text from the filing

e of $13.80 as of March 31, 2023 • Dividends declared of $0.39 per common share for the first quarter of 2023 • Total economic loss of $(0.54) per common share, or (3.7)% of beginning book value • Comprehensive loss of $(0.54) per common share and net loss of $(0.81) per common share • Liquidity in excess of $554 million in cash and unencumbered assets • Leverage including to-be-announced ("TBA") securities at cost was 7.8 times shareholders' equity Management Remarks “Our portfolio decisions are a testament to our unwavering commitment to financial prudence and strategic planning, enabling us to confidently navigate through the current market," said Byron L.

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Source: SEC EDGAR

accession 0000826675-23-000054

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