Dynex Capital, Inc. (NYSE:DX) Declares Monthly Dividend of $0.17

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Wednesday, March 11th. Investors of record on Monday, March 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 15.1%. The ex-dividend date is Monday, March 23rd.

Dynex Capital has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Dynex Capital has a payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Dynex Capital to earn $1.97 per share next year, which means the company may not be able to cover its $2.04 annual dividend with an expected future payout ratio of 103.6%.

Dynex Capital Price Performance

Shares of DX opened at $13.52 on Thursday. Dynex Capital has a 1-year low of $10.79 and a 1-year high of $14.93. The stock has a market cap of $2.73 billion, a PE ratio of 6.63 and a beta of 0.97. The firm has a 50-day simple moving average of $14.06 and a two-hundred day simple moving average of $13.50.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Monday, January 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.26). The company had revenue of $202.00 million during the quarter, compared to analyst estimates of $59.41 million. Dynex Capital had a return on equity of 6.83% and a net margin of 59.80%. As a group, sell-side analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.