Dynex Capital, Inc. Declares Monthly Common Stock Dividend of $0.13

Dynex Capital, Inc. DX announced today the Company's Board of Directors has declared a cash dividend of $0.13 per common share for June 2020. The dividend is payable on July 1, 2020 to shareholders of record on June 22, 2020.

"Our earnings outlook is strong as we have increased the size of our balance sheet to $4.3 billion and financing costs are expected to remain low," stated Mr. Byron L. Boston, President, Chief Executive Officer. "The modestly reduced dividend is appropriate for the environment, in which we believe surprises are highly probable. It provides the opportunity to organically grow book value with flexibility and capital to reinvest into the business as attractive opportunities arise."

Dynex Capital, Inc. is an internally managed real estate investment trust, or REIT, which invests in mortgage assets on a leveraged basis. The Company invests in Agency and non-Agency RMBS, CMBS, and CMBS IO. Additional information about Dynex Capital, Inc. is available at www.dynexcapital.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the business of Dynex Capital, Inc. that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of these risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.

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