Dynex Capital Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2011
January 26, 2012 at 05:01 pm
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Dynex Capital Inc. announced that based on preliminary estimates, it expects its results for the fourth quarter ended December 31, 2011 will be as follows: net income of between $14.1 million and $14.9 million versus $1.5 million for the quarter ended September 30, 2011, or earnings per diluted common share of between $0.35 and $0.37 per common share versus $0.04 per common share for the quarter ended September 30, 2011, book value per common share of between $9.18 and $9.22 per common share versus $9.15 at September 30, 2011. The increase in net income and earnings per diluted share primarily relates to growth in the net interest spread during the quarter, as well as certain charges included in the results for the quarter ended September 30, 2011, such as litigation settlement and related defense costs and a charge on redemption of collateralized financings. The increase in book value per common share primarily relates to the excess of earnings for the quarter versus the dividend declared of $0.28 for the quarter.
Dynex Capital, Inc. is an internally managed mortgage real estate investment trust (REIT), which invests in mortgage-backed securities (MBS). The Companyâs objective is to provide attractive risk-adjusted returns to its shareholders over the long term that are reflective of a leveraged, high quality fixed income portfolio with a focus on capital preservation. The Company seeks to provide returns to its shareholders primarily through the payment of regular dividends and through capital appreciation of its investments. The Company primarily invested in Agency MBS, including residential MBS (Agency RMBS). Its investment portfolio also comprised of Agency commercial MBS (Agency CMBS) and Agency and non-Agency CMBS interest-only (CMBS IO) securities.
DYNEX CAPITAL, INC. 
