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Jun 30, 2024
Dynex Capital Q2 2024 Earnings Report
Reported second quarter 2024 financial results with a total economic loss of $(0.31) per common share.
Key Takeaways
Dynex Capital reported a total economic loss of $(0.31) per common share, with a book value of $12.50 per common share as of June 30, 2024. They declared dividends of $0.39 per common share and raised $124.7 million in equity capital. The company also purchased $551.1 million of higher coupon Agency RMBS and maintained liquidity of $644.0 million.
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.
Dividends declared of $0.39 per common share for the second quarter.
Raised equity capital of $124.7 million during the second quarter.
Forward Guidance
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “forecast,” “anticipate,” “estimate,” “project,” “plan,” "may," "could," "will," "continue" and similar expressions identify forward-looking statements that are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified.
Positive Outlook
- Ability to find suitable investment opportunities
- Changes in domestic economic conditions
- 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
- Changes to the Company’s investment strategy, operating policies, dividend policy or asset allocations
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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