Item 8.01 - Other Events.

On January 15, 2021 Dynex Capital, Inc. (the "Company") sent a notice of redemption to the holders of its 7.625% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock" and such notice, the "Series B Redemption Notice") calling for the redemption of all, approximately 2.8 million shares, of its outstanding Series B Preferred Stock. Pursuant to this redemption, on February 15, 2021, each share of Series B Preferred Stock will be cancelled and represent solely the right to receive cash in the amount stated in the Series B Redemption Notice. The office of the registrar, transfer agent, redemption agent and disbursing agent for the Series B Preferred Stock is as follows: Computershare Trust Company, N.A., Attn: Corporate Actions, P.O. Box 43014, Providence, RI 02940-3014. For questions regarding the Series B Redemption Notice, investors should contact Computershare Trust Company, N.A. at 800-546-5141 or the Company at 804-217-5897.

A copy of the press release announcing the redemption is "furnished" as Exhibit 99.1 to this Current Report on Form 8-K. The information in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits

   Exhibit No.          Description
                          Press Release Announcing Redemption of the Series B Preferred
      99.1              Stock
                        Cover Page Interactive Data File (embedded within the Inline XBRL
       104              document)

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