Dynex Capital, Inc. Announces Change to a Monthly Common Dividend Distribution Commencing 2019
December 11 2018 - 9:20AM
Business Wire
Dynex Capital, Inc. (NYSE: DX) announced today that the
Company’s Board of Directors has approved a change in the payment
frequency of common stock dividends beginning in January 2019. In
response to suggestions from existing shareholders as well as in
recognition of global demographic trends toward
income-oriented investments, future common stock
dividend distributions will be paid monthly rather than
quarterly. The Company plans to declare the common dividend by the
15th and payment will be made on the last business day of each
month.
“We are extremely pleased to announce the change to our common
dividend payment schedule in response to shareholder input. As we
have frequently noted, populations are aging around the
globe and investors are increasingly seeking cash
dividends for supplemental retirement income. We believe the
new monthly distribution schedule will be an attractive feature of
our dividend policy and a significant benefit to a large percentage
of our shareholder base in this demographic. We also believe
this initiative will provide a meaningful enhancement to our
shareholders while continuing our priority of creating shareholder
value and positioning the Company for continued success,” said
Byron L. Boston, President and Chief Executive Officer.
For further information or questions, please contact Dynex
Investor Relations at (804) 217-5897.
Dynex Capital, Inc. is an internally managed real estate
investment trust, or REIT, which invests in mortgage assets on a
leveraged basis. The Company invests in Agency and non-Agency
RMBS, CMBS, and CMBS IO. Additional information about Dynex
Capital, Inc. is available at www.dynexcapital.com.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release
regarding the business of Dynex Capital, Inc. that are
not historical facts, including the statements in Mr. Boston's
quote, statements regarding the frequency of future dividend
distributions and other statements that use words such
as “believe,” “expect,” “intend,” “may,” “plan,” “will,”
“would,” “potential” and similar terms are “forward-looking
statements” that involve risks and uncertainties. Factors that
could cause actual results to differ from such statements or
affect the future frequency of the declaration of dividend
distributions include, but are not limited to: the
requirements for maintaining the Company's REIT status and
maintaining compliance with dividend requirements of the
Company's Series A Preferred Stock and Series B Preferred
Stock, the Company's long-term outlook, financial
conditions, results of operations, and trends in the
investment and financing markets. For a discussion
of other risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see “Risk Factors” in the Company’s Annual Report on
Form 10-K and other reports filed with the Securities and Exchange
Commission. The Company cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. The Company does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in their expectations or any change in events, conditions or
circumstances on which any such statement is based.
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Alison Griffin804-217-5897
Dynex Capital (NYSE:DX)
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