Monitor the final prospectus supplement for the dividend rate, offering size, and pricing details. The preferred stock issuance will increase the company's equity capital base and support further investment in mortgage assets, but also adds a fixed dividend obligation ranking senior to common equity.
Price Chart
Executive Summary
Dynex Capital is filing a preliminary prospectus supplement for a proposed public offering of a new series of fixed-rate cumulative redeemable preferred stock (Series D). The offering size, dividend rate, and pricing are all undisclosed placeholders at this preliminary stage. Proceeds are intended to finance the acquisition of Agency and other investment securities and for general corporate purposes.
Key Facts
- Offering of Series D Fixed-Rate Cumulative Redeemable Preferred Stock with a $25.00 per share liquidation preference.
- Dividend rate, number of shares, and offering price are all undisclosed placeholders in this preliminary filing.
- The Series D Preferred Stock is not redeemable prior to October 15, 2031, except under certain REIT preservation or REMIC tax status circumstances.
- Proceeds will be used to finance the acquisition of Agency and other investment securities and for general corporate purposes.
- The company intends to apply to list the Series D Preferred Stock on the NYSE under the symbol DXPRD.
- As of June 30, 2026, the company had total consolidated liabilities of approximately $23.2 billion and total shareholders' equity of approximately $3.175 billion.
Financial Impact
Offering size and pricing are undisclosed; net proceeds are placeholder amounts. The filing does not provide specific financial impact figures.
Risk Factors
- The Series D Preferred Stock ranks junior to all existing and future indebtedness, including $23.2 billion in total liabilities as of June 30, 2026.
- Dividend payments are subject to board discretion and legal availability of funds.
- No established trading market exists for the Series D Preferred Stock, which may limit liquidity.
- Ownership restrictions (9.8% cap) may limit conversion rights upon a change of control.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0000826675-26-000092 |
| Document: 0000826675-26-000092-index-headers.html | 0000826675-26-000092 |
| Document: 0000826675-26-000092-index.html | 0000826675-26-000092 |
| Document: 0000826675-26-000092.txt | 0000826675-26-000092 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Insider Cluster | $11.05 $10.92 | ▼ −1.18% | ▼ −0.65% | $10.92 (−1.18%) |
Oct 20, 2026 6d ago | Insider Cluster | $11.05 $11.05 | · 0.00% | ▲ +1.18% | $10.92 (−1.18%) |
Oct 19, 2026 8d ago | 8-K | $10.56 $10.96 | ▼ −3.79% | ▼ −3.45% | $10.92 (−3.41%) |
Sep 25, 2026 4w ago | 8-K | $11.33 $11.39 | ▲ +0.53% | ▲ +0.71% | $10.92 (−3.62%) |
Sep 23, 2026 4w ago | 424B5 | $11.34 $11.34 | · 0.00% | ▼ −0.54% | $10.92 (−3.70%) |
Sep 22, 2026 5w ago | 424B5 | $12.10 $11.73 | ▼ −3.06% | ▼ −2.34% | $10.92 (−9.75%) |
Aug 9, 2026 11w ago | Institutional Cluster | $12.78 $12.93 | ▲ +1.17% | ▲ +1.49% | $10.92 (−14.55%) |
Jul 20, 2026 14w ago | 8-K | $13.12 $13.02 | ▼ −0.76% | ▼ −1.60% | $10.92 (−16.77%) |
Jun 11, 2026 19w ago | Institutional Cluster | $12.90 $12.93 | ▲ +0.23% | ▼ −0.31% | $10.92 (−15.35%) |
May 22, 2026 22w ago | 8-K | $26.11 $26.00 | ▼ −0.40% | ▼ −0.42% | $10.92 (−58.17%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers