Dynex Capital, Inc. Declares First Quarter 2019 Preferred Stock Dividends

GLEN ALLEN, Va.–(BUSINESS WIRE)–Dynex Capital, Inc. (NYSE: DX) announced today that the Company’s Board
of Directors has declared dividends on shares of its preferred stock for
the first quarter of 2019.

The Company announced that it will pay the regular quarterly dividend of
$0.53125 per share on its 8.50% Series A Cumulative Redeemable Preferred
Stock (NYSE: DXPRA) and $0.4765625 per share on its 7.625% Series B
Cumulative Redeemable Preferred Stock (NYSE: DXPRB). Both dividends will
be paid on April 15, 2019 to shareholders of record of the Series A and
Series B Preferred Stocks as of April 1, 2019.

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.

Contacts

Alison Griffin
804-217-5897