Dynex Capital, Inc. (NYSE: DX) was little changed in stock price Monday on reporting its second quarter 2024 financial results. Management will host a call today at 10:00 a.m. Eastern Time to discuss the results and business outlook.
Financial Performance Summary
• Total economic loss of $(0.31) per common share, or (2.4)% of beginning book value
• Book value per common share of $12.50 as of June 30, 2024
• Comprehensive loss of $(0.18) per common share and net loss of $(0.15) per common share
• Dividends declared of $0.39 per common share for the second quarter
• Raised equity capital of $124.7 million during the second quarter through a public offering of common stock and at-the-market ("ATM") issuances
• Purchased $551.1 million of higher coupon Agency RMBS
• Liquidity of $644.0 million as of June 30, 2024
• Leverage including to-be-announced securities at cost was 7.9 times shareholders' equity as of June 30, 2024
"Dynex continued to execute on its strategic plan to deliver consistent dividend income with disciplined capital management. We raised capital at attractive levels and are ready to take advantage of the generationally wide spreads in the mortgage market," said Byron L. Boston, Chairman and Co-Chief Executive Officer. "Human capital remains a focus, and we made several key decisions to build for future success."
DX shares opened Monday up two cents to $12.35.
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