Dynex Capital Q1: book value $13.20, economic return $0.28; announces $150M repurchase program

DYNEX CAPITAL INC

2024-Q1 EPS reported $0.64

Book value per common share $13.20 (down from $13.31 at Dec 31); total economic return $0.28 per share (2.1% of beginning BV).
Net income $0.65 per share; comprehensive income $0.35 per share; dividends declared $0.39 per common share.
New share repurchase program: up to $100M common stock and $50M preferred stock, authorized through April 30, 2026.
Raised $86.8M in equity via ATM issuances; liquidity $577.1M; leverage at 8.1x shareholders' equity.
Net interest expense of $3.2M driven by high financing costs; hedging gains of $165.5M unrealized offset MBS losses.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DYNEX CAPITAL INC reported financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 22, 2024, Dynex Capital, Inc. (the "Company") issued a press release, which is available on its website ( www.dynexcapital.com under “Investor Center/News & Market Information”), reporting its financial condition and financial results as of and for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000826675-24-000047

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