Dynex Capital posted Q2 net income of $0.80 per share, delivering total economic return of $0.81 per share, or 6.4% of beginning book value.
Book value per common share rose to $12.90 at June 30 from $12.60 at March 31, while dividends declared held at $0.51 per share.
Net interest income climbed to $93.78 million from $79.25 million, while operating expenses fell to $16.21 million from $21.25 million.
Portfolio expanded 11% to $27.6 billion, driven by $2.8 billion of MBS purchases, while leverage including TBAs eased to 8.1x from 8.6x.
Raised $391 million of common equity via its ATM program; management cited progress in its “raise-and-deploy” strategy amid an attractive return environment.
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