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Dynex Capital board authorizes share repurchase program

Dynex Capital Inc.'s board on Dec. 6 authorized the purchase of up to $40 million of the company's outstanding common shares through Dec. 31, 2020.

The authorization replaces the company's prior share repurchase program, which was to expire Dec. 31, 2018.

In addition, the company announced that it plans to begin paying dividends on its common stock on a monthly, rather than quarterly, basis commencing in January 2019. The company plans to declare the common stock dividend by the 15th and pay the common stock dividend on the last business day of each month.