---
schema_version: "secwatch.filing_event.v1"
accession: "0000826675-25-000148"
form_type: "8-K"
ticker: "DX"
cik: "0000826675"
company_name: "DYNEX CAPITAL INC"
filed_at: "2025-10-20T23:59:59+00:00"
generated_at: "2026-05-17T03:19:32.906994+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dynex Capital Q3 2025: Total economic return $1.23/share, BV $12.67, raises $254M

## Summary
- Total economic return of $1.23 per share (10.3% of beginning BV) from $0.72 BV increase + $0.51 dividends declared.
- Book value per share rose to $12.67 from $11.95; net income $1.09/share vs ($0.14) loss in prior quarter.
- Raised $254M net via ATM equity issuances; purchased $2.4B Agency RMBS and $464M Agency CMBS.
- Liquidity over $1B; leverage 7.5x equity; net interest income improved to $30.6M from $23.1M.
- Management expects further financing cost improvement from Fed's 25 bps rate cut in September.

## SEC filing metadata
- accession: 0000826675-25-000148
- form_type: 8-K
- ticker: DX
- cik: 0000826675
- company_name: DYNEX CAPITAL INC
- filed_at: 2025-10-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/826675/000082667525000148/0000826675-25-000148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826675/000082667525000148/dx-20251020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826675-25-000148
- JSON: https://secwatch.observer/filing/0000826675-25-000148.json
- Plain text: https://secwatch.observer/filing/0000826675-25-000148.txt

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