Bose George

Douglas Harter

Eric Hagen

Trevor Cranston

Jason Stewart

Jason Weaver

- DX reported **net income to common shareholders of $147,561 thousand**, or **$1.09 per common share**, for Q3 2025, a significant improvement from a net loss of ($16,286) thousand, or ($0.14) per common share, in Q2 2025.  **[0000826675_2191523:23]** **[0000826675_2191523:23]**  This was driven by **interest income of $149,679 thousand** and **net unrealized gains on investments of $142,469 thousand** in Q3 2025.  **[0000826675_2191523:23]** **[0000826675_2191523:23]** 
- As of September 30, 2025, the company maintained a strong liquidity position with **$1.1 billion in cash and unencumbered assets**, representing **55% of equity**.  **[0000826675_2191523:15]** 
- The portfolio primarily consists of **Agency RMBS, totaling $14,957,405 thousand** in par value as of September 30, 2025, with a weighted average market yield of **5.03%**.  **[0000826675_2191523:18]**  Management noted that mortgage spreads remain historically wide, offering opportunities for significant hedged carry, and anticipates a Fed bias to cut rates at least once in 4Q25.  **[0000826675_2191523:15]** **[0000826675_2191523:9]**

DX Reports Strong Q3 2025 Earnings

- Dynex Capital Inc. delivered **20%** year-to-date shareholder returns and a **10.3%** total economic return for Q3 2025.  **[0000826675_2191501_1]** 
- The company raised **$254 million** in new common equity capital in Q3 2025, bringing the year-to-date total to **$776 million**, and expanded its portfolio by **10%** since Q2 2025.  **[0000826675_2191501_2]** **[0000826675_2191501_3]** 
- Net interest income continues to trend upward, with over **$130 million** in portfolio gains during Q3 2025, and quarter-end liquidity stood at over **$1 billion**.  **[0000826675_2191501_2]** 
- Estimated book value per share was **$12.71** as of last Friday's close, with ROEs in agency RMBS remaining in the **high teens** net of hedging costs.  **[0000826675_2191501_5]**

Dynex Capital Inc. Reports Q3 2025 Results and Strategic Updates

- Dynex Capital reported strong financial performance, with **year-to-date shareholder returns of 20%** and a **total economic return of 10.3% for Q3 2025** and **11.5% year-to-date**.  **[0000826675_2191491_1]** 
- The company's common equity market cap has grown to **above $1.8 billion**, supported by **$254 million in new common equity capital raised in Q3 2025**, contributing to a **$776 million year-to-date** total.  **[0000826675_2191491_1]** **[0000826675_2191491_2]** **[0000826675_2191491_3]** 
- The portfolio has grown **over 50% since the beginning of the year**, with **net interest income trending upward** and **over $130 million of gains** on the portfolio in Q3 2025.  **[0000826675_2191491_2]** 
- Liquidity at quarter end stood at **over $1 billion**, representing **over 50% of total equity**, and the estimated book value quarter-to-date is **$1,271 net of the dividend accrual**.  **[0000826675_2191491_2]** **[0000826675_2191491_5]** 
- The company continues to see attractive opportunities in Agency RMBS, with **ROEs remaining in the high teens net of hedging costs**, and is opening a new office in **New York City**.  **[0000826675_2191491_2]** **[0000826675_2191491_5]**

Dynex Capital Reports Strong Q3 2025 Performance and Growth

- Dynex Capital, Inc. reported a **total economic return of $1.23 per common share**, or **10.3% of beginning book value**, for the third quarter of 2025.  **[826675_e4206f7fadbf47ca90dce962861c58e2_0]** 
- The company's **book value per common share was $12.67** as of September 30, 2025.  **[826675_e4206f7fadbf47ca90dce962861c58e2_0]** **[826675_e4206f7fadbf47ca90dce962861c58e2_2]** 
- For the third quarter of 2025, Dynex Capital achieved **net income of $1.09 per common share** and **comprehensive income of $1.20 per common share**.  **[826675_e4206f7fadbf47ca90dce962861c58e2_0]** 
- Dynex Capital **raised $254 million in equity capital**, net of issuance costs, through at-the-market (ATM) common stock issuances.  **[826675_e4206f7fadbf47ca90dce962861c58e2_0]** 
- The company **purchased $2.4 billion in Agency RMBS and $464 million in Agency CMBS** during the quarter, maintaining **liquidity of over $1 billion** as of September 30, 2025.  **[826675_e4206f7fadbf47ca90dce962861c58e2_0]**

Dynex Capital, Inc. Announces Third Quarter 2025 Results

- Dynex Capital, Inc. declared a **cash dividend of $0.17 per share** on its Common Stock (NYSE: DX) for September 2025, payable on **October 1, 2025**, to shareholders of record as of **September 22, 2025**.  **[826675_e46350de39804e8592ef4d070b1b2dcb_0]** 
- The company also declared a quarterly cash dividend of **$0.62752 per share** on its Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE: DXPRC) for the third quarter of 2025, payable on **October 15, 2025**, to shareholders of record as of **October 1, 2025**.  **[826675_e46350de39804e8592ef4d070b1b2dcb_0]** 
- The dividend rate for the Series C Preferred shares for the dividend period ending October 14, 2025, is **10.04038%**.  **[826675_e46350de39804e8592ef4d070b1b2dcb_0]** 
- Dynex Capital operates as a **real estate investment trust (REIT)**, generating dividend income and long-term total returns through the financing of real estate assets.  **[826675_e46350de39804e8592ef4d070b1b2dcb_0]**

DYNEX CAPITAL (DX)