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Mar 31, 2023
Dynex Capital Q1 2023 Earnings Report
Dynex Capital reported first quarter 2023 financial results.
Key Takeaways
Dynex Capital reported a book value per common share of $13.80 as of March 31, 2023, and declared dividends of $0.39 per common share for the first quarter of 2023. The company experienced a total economic loss of $(0.54) per common share, or (3.7)% of beginning book value, and a comprehensive loss of $(0.54) per common share, with liquidity in excess of $554 million in cash and unencumbered assets. Leverage, including to-be-announced (TBA) securities at cost, was 7.8 times shareholders' equity.
Book value per common share of $13.80 as of March 31, 2023
Dividends declared of $0.39 per common share for the first quarter of 2023
Total economic loss of $(0.54) per common share, or (3.7)% of beginning book value
Liquidity in excess of $554 million in cash and unencumbered assets
Forward Guidance
This release contains forward-looking statements regarding the Company's financial performance in future periods, future interest rates, future market credit spreads, management's views on expected characteristics of future investment and macroeconomic environments, central bank strategies, prepayment rates and investment risks, future investment strategies, future leverage levels and financing strategies, the use of specific financing and hedging instruments and the future impacts of these strategies, future actions by the Federal Reserve, and the expected performance of the Company's investments.
Positive Outlook
- Statements regarding the Company's financial performance in future periods
- Statements regarding future interest rates
- Statements regarding future market credit spreads
- Statements regarding management's views on expected characteristics of future investment and macroeconomic environments
- Statements regarding central bank strategies
Challenges Ahead
- Volatility and disruption in national and international financial markets
- Ability to find suitable investment opportunities
Historical Earnings Impact
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Avg. Return Before/After Earnings
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