Dynex Capital, Inc. declared its first quarter 2025 dividend on shares of its 6.900% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The company will pay a quarterly dividend of $0.43125 per share on April 15, 2025, to shareholders of record as of April 1, 2025.
A significant change was announced regarding the Series C Preferred Stock's dividend rate. Due to the cessation of 3-month LIBOR, the terms have been revised. Effective April 15, 2025, and thereafter, the company will pay cumulative cash dividends at a floating rate.
The new floating rate will be equal to 3-month term SOFR plus a statutorily prescribed tenor spread adjustment of 0.26161% in addition to the original spread of 5.461%, totaling a spread of 5.723%. This conversion provides clarity on the future dividend calculation for Series C Preferred Stock holders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.