GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX)) announced today that it intends to redeem all, approximately 2.8 million shares, of its outstanding Series B Cumulative Redeemable Preferred Stock (NYSE: DXPRB) on February 15, 2021. The Series B Preferred Stock will be redeemed for $25 per share, plus $0.1535590 per share in accumulated and unpaid dividends, for an aggregate redemption price of $25.1535590 per share.

On the Redemption Date, dividends on the Series B Preferred Stock will cease to accumulate, and all rights relating to the Series B Preferred Stock will terminate, except the right to receive the Redemption Amount. Payment of the Redemption Amount will be made only upon delivery and surrender of the Series B Preferred Stock to Computershare Inc., the Company’s redemption and paying agent, during its normal business hours at the address specified in the Notice of Redemption.

Written notice of the redemption will be mailed on or about February 15, 2021. Questions relating to the Notice of Redemption and related materials should be directed to Computershare Inc., at 1-800-546-5141.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Company Description

Dynex Capital, Inc. is an internally managed real estate investment trust which invests in mortgage assets on a leveraged basis. The Company invests in Agency and non-Agency RMBS, CMBS, and CMBS IO.