DYNEX CAPITAL INC 8-K

What Happened
DYNEX CAPITAL INC (DX) filed an 8‑K (Item 8.01) on April 21, 2026, announcing that its Board approved a new share repurchase program authorizing repurchases of up to $300 million of common stock and up to $50 million of preferred stock. The Program replaces the prior repurchase program and is authorized through April 30, 2028. The filing was signed by Michael A. Sartori, Chief Financial Officer.

Key Details

• Total authorization: up to $300 million of common stock and up to $50 million of preferred stock (any series).
• Repurchase methods: open‑market transactions, privately negotiated transactions, and trading plans under Rule 10b5‑1, among other means.
• Effective period: Program is authorized through April 30, 2028; it replaces the prior program that would have expired April 30, 2026.
• No obligation to repurchase: the Company may modify, suspend, or terminate the Program at any time and is not required to purchase any shares.

Why It Matters
A board‑approved repurchase program can reduce share count and support per‑share metrics if the company buys stock. For investors, the size ($350M total authorization) and multi‑year authorization through 2028 signal that management has flexibility to return capital or manage capital structure, but actual purchases will depend on market conditions, legal limits, and Board decisions — the Program does not commit the company to buy shares.