Dynex Capital, Inc. announced it has closed its previously disclosed public offering of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock. The company filed Articles of Amendment, effective September 29, 2026, to establish the terms, preferences, and rights of this new series of shares.
Key Details
- Offering Size: The company issued and sold 4,800,000 shares of its Series D Preferred Stock with a liquidation preference of $25.00 per share. Underwriters have a 30-day option to purchase up to an additional 720,000 shares.
- Security Terms: The stock will pay a fixed cumulative dividend at a rate of 9.375% per annum, equivalent to $2.34375 per share annually, payable quarterly. The new shares will trade on the NYSE under the symbol "DXPRD".
- Redemption: The Series D Preferred Stock is not redeemable before October 15, 2031, except under specific circumstances such as a change of control or to preserve the company's REIT status. On or after this date, the company may redeem the shares at its option for $25.00 per share plus any unpaid dividends.