GLEN ALLEN, Va.--(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.
