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Mar 31, 2024
Dynex Capital Q1 2024 Earnings Report
Dynex Capital reported first quarter 2024 financial results.
Key Takeaways
Dynex Capital reported a total economic return of $0.28 per common share, representing 2.1% of the beginning book value. The company's book value per common share was $13.20 as of March 31, 2024, and net income per common share was $0.65.
Total economic return of $0.28 per common share, or 2.1% of beginning book value.
Book value per common share of $13.20 as of March 31, 2024.
Comprehensive income of $0.35 per common share and net income of $0.65 per common share.
Dividends declared of $0.39 per common share for the first quarter of 2024.
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
- Ability to find suitable investment opportunities.
- Changes in domestic economic conditions.
- Changes in interest rates and credit spreads, including the repricing of interest-earning assets and interest-bearing liabilities.
- The Company’s investment portfolio performance, particularly as it relates to cash flow, prepayment rates and credit performance.
- The cost and availability of financing, including the future availability of financing due to changes to regulation of, and capital requirements imposed upon, financial institutions.
Challenges Ahead
- Geopolitical events, such as terrorism, war or other military conflict, including the wars between Russia and the Ukraine and between Israel and Hamas and the related impact on macroeconomic conditions as a result of such conflicts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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