PreferredStockChannel
Dynex Capital Inc | 8.50% Series A Cumulative Redeemable Preferred Stock (DX.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering 2,000,000 shares of our 8.50% Series A Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the Series A Preferred Stock.

We will pay cumulative dividends on our Series A Preferred Stock in the amount of $2.125 per share each year, which is equivalent to the rate of 8.50% of the $25.00 liquidation preference per share. Dividends on our Series A Preferred Stock sold in this offering will be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing October 15, 2012, to holders of record on the applicable record date. The Series A Preferred Stock has no maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased or converted into common stock pursuant to the terms of the Series A Preferred Stock. Except under circumstances intended to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes, or, in accordance with our articles of incorporation, to avoid penalty taxes in respect of, or protect the tax status of, any real estate mortgage investment conduit, or REMIC, in which we have or plan to take an interest, the Series A Preferred Stock is not redeemable prior to July 31, 2017. On or after July 31, 2017, at any time and from time to time the Series A Preferred Stock will be redeemable in whole, or in part, at our option, at a cash redemption price of $25.00 per share, plus any accumulated and unpaid dividends (whether or not declared) to, but not including, the redemption date.

In addition, upon the occurrence of a Change of Control (as defined herein), we may, subject to certain conditions, at our option, redeem the Series A Preferred Stock, in whole or in part and within 120 days after the first date on which such Change of Control occurred by paying the liquidation preference of $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. If we exercise any of our redemption rights relating to the Series A Preferred Stock, the holders of Series A Preferred Stock will not have the conversion rights described below with respect to those shares.

Full Prospectus PDF », DX Page »

Series:A
Alternate symbology:DX-A, DX-PA, DXprA
Redeemable?:Yes
Call Date:7/31/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,000,000
Overallotment:300,000
Liquidation Preference:$25
Original Coupon:8.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn DX.PRA's Rating
Dynex Capital is an internally managed mortgage real estate investment trust, which primarily invests in residential and commercial mortgage-backed securities (MBS). Co. finances its investments principally with borrowings under repurchase agreements. Co. is primarily invested in Agency MBS including residential MBS, commercial MBS (CMBS) and CMBS interest-only (IO) securities. Agency MBS have an implicit guaranty of principal payment by an agency of the U.S. government or a U.S. government-sponsored entity. Co. also has investments in non-Agency MBS, which consist mainly of CMBS IO. Non-Agency MBS are issued by non-governmental enterprises and do not have a guaranty of principal payment.

Preferreds: DX.PRA, DXPBP, DX.PRB


Open the DX Information Page »
Name: 
Dynex Capital Inc
Website: 
www.dynexcapital.com
Sector: 
REITs
Number of ETFs Holding DX: 
24 (see which ones)
Total Market Value Held by ETFs: 
$67,258,967.15
Total Market Capitalization: 
$620,000,000
% of Market Cap. Held by ETFs: 
10.85%

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