---
schema_version: "secwatch.filing_event.v1"
accession: "0000826675-23-000054"
form_type: "8-K"
ticker: "DX"
cik: "0000826675"
company_name: "DYNEX CAPITAL INC"
filed_at: "2023-04-24T23:59:59+00:00"
generated_at: "2026-06-16T20:29:36.832134+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000826675-23-000054
- form_type: 8-K
- ticker: DX
- cik: 0000826675
- company_name: DYNEX CAPITAL INC
- filed_at: 2023-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826675/000082667523000054/0000826675-23-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826675/000082667523000054/dx-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826675-23-000054
- JSON: https://secwatch.observer/filing/0000826675-23-000054.json
- Plain text: https://secwatch.observer/filing/0000826675-23-000054.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/826675/000082667523000054/0000826675-23-000054-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.