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July 28 , 2021 DYNEX CAPITAL INC . Dynex Capital , Inc. Reports Second Quarter 2021 Results GLEN ALLEN , Va .-- ( BUSINESS WIRE ) -- Dynex Capital , Inc. ( NYSE : DX ) reported its second quarter 2021 results today . Management will host a call today at 10:00 a.m. Eastern Time to discuss the results and business outlook . Details to access the call can be found below under " Earnings Conference Call . " Management Remarks " We began this year believing we would have multiple opportunities to invest capital at attractive returns , as the yield curve steepened or spreads widened . As such , we have raised capital , maintained lower leverage , and methodically deployed capital at accretive levels throughout the year , " stated Byron L. Boston , Chief Executive Officer . " The global economy is evolving with uncertainties about the long - term effects of the pandemic and the impact of massive fiscal and monetary stimulus . The capital markets have reflected this uncertainty , resulting in increased volatility in our book value , with our positive performance in the first quarter providing a cushion for the decline that we experienced in the second quarter . Year - to - date , we have generated a total economic return of 2.4 % through June 30 , 2021 , and our book value is down 1.7 % . As anticipated , we out - earned our dividend of $ 0.39 in the second quarter . " " Our experienced team has managed through a wide range of investment environments , and we continue to manage our portfolio with a long - term view . We have generated a trailing 12- month total economic return of 21.7 % and a total shareholder return of 42.6 % , outperforming comparable investment alternatives . We are well positioned for the current environment with flexibility , substantial liquidity and the capacity to increase the earnings power of the portfolio . We remain confident in our ability to generate attractive risk - adjusted returns with solid core earnings that support the dividend while preserving shareholder capital , " Boston concluded . Second Quarter 2021 Highlights Comprehensive loss of $ ( 0.98 ) per common share and net loss of $ ( 1.43 ) per common share • Core net operating income , a non - GAAP measure , of $ 0.51 per common share • Book value per common share of $ 18.75 as of June 30 , 2021 • Total economic loss of $ ( 0.93 ) , or ( 4.6 ) % , per common share , comprised of $ ( 1.32 ) decline in book value since March 31 , 2021 , partially offset by dividends of $ 0.39 • Net interest spread of 1.87 % and adjusted net interest spread , a non - GAAP measure , of 1.95 % • Raised $ 68.3 million in capital through at - the - market ( " ATM " ) offerings of common stock , adding $ 0.07 per common share in book value and reducing operating expenses by approximately $ 0.02 per share