Dynex Capital Announces $0.6079 Quarterly Dividend for Series C Preferred Shares
Dynex Capital Inc., a mortgage real estate investment trust (mREIT), has declared a quarterly dividend of $0.6079 per share on its 6.9% Series C preferred stock, which translates to an annualized yield of approximately 9.4%. The dividend is payable on October 15 for shareholders registered as of October 1, with the ex-dividend date set for October 1. The announcement comes amid a backdrop where Dynex Capital has been positioning itself in the mortgage-backed securities market and adjusting its leverage strategy to between 7.5% and 8.5%. The company recently reported Q2 earnings that exceeded expectations, contributing to an increase in book value and investor confidence. Market analysts have noted that despite rising interest rates, Dynex Capital's preferred stock offers a compelling yield relative to current market conditions.
Tickers: $DX
Topics: agency_mbs dividends real_estate_investment_trusts (REITs)