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October 27 , 2021 DYNEX CAPITAL INC . Dynex Capital , Inc. Reports Third Quarter 2021 Results GLEN ALLEN , Va .-- ( BUSINESS WIRE ) -- Dynex Capital , Inc. ( NYSE : DX ) reported its third 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 believe the current environment remains favorable for us to generate solid long - term returns . We are pleased to once again have generated returns in excess of our dividend in the quarter , " stated Bryon Boston , Chief Executive Officer . " Our quarterly and year - to - date total economic return is 0.3 % and 2.7 % , respectively . As always , we are taking a thoughtful , disciplined approach to current conditions and have positioned our liquidity and capital commensurate with an uncharted economic environment . ” Mr. Boston continued , “ The Dynex team expects an uneven transition of the global economy and central bank strategies beyond the immediate impacts of the pandemic , creating new risks and new opportunities . Experience is essential to success in this shifting economic landscape and our management team continues to draw upon its decades of knowledge to skillfully navigate today's market . Given our high level of liquidity and low portfolio leverage , we believe we are in a strong position to continue to generate returns in excess of our dividend and to deploy capital accretively . " Third Quarter 2021 Highlights • Comprehensive income of $ 0.09 per common share and net income of $ 0.35 per common share Earnings available for distribution ( formerly " core net operating income " ) , a non - GAAP measure , of $ 0.54 per common share • Book value per common share of $ 18.42 as of September 30 , 2021 • Total economic return of $ 0.06 , or 0.3 % , per common share , comprised of dividends declared of $ 0.39 , partially offset by $ ( 0.33 ) decline in book value since June 30 , 2021 • Net interest spread of 1.93 % and adjusted net interest spread , a non - GAAP measure , of 2.10 % . Leverage , including TBA dollar roll positions , of 5.9x shareholders ' equity as of September 30 , 2021 , compared to 6.7x as of June 30 , 2021 • Continued growth in equity capital by raising $ 27.9 million through at - the - market ( " ATM " ) offerings of common stock , bringing year - to - date capital raised to $ 224.4 million . Third Quarter 2021 Results Discussion Comprehensive income to common shareholders was $ 3.0 million , or $ 0.09 per common share , for the third quarter of 2021 versus a loss of $ ( 31.4 ) million , or $ ( 0.98 ) per common