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Dynex holds payout steady; Akin stepping down from CEO post

  • Dynex Capital (DX) declares a Q4 dividend of $0.27, flat from last quarter, and a 13.5% annualized yield. Today's close of $7.98 puts the stock at a 7.1% discount to book.
  • Thomas Akin is out as CEO, effective January 1, and will be replaced by CIO Byron Boston (who will retain a role as co-CIO). Akin will remain on the board as Executive Chairman.
  • Boston will be joined in the CIO role by Smriti Popenoe, who has been a strategic consultant to Dynex since May. Previous to that, Popenoe was Chief Risk Officer at PHH Corp.
  • Press release
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