Dynex Capital, Inc. Announces Change to a Monthly Common Dividend Distribution Commencing 2019
Business Wire 11-Dec-2018 9:20 AM
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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