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Dynex Capital shareholders approve reverse stock split

Dynex Capital Inc. shareholders approved a proposal that will allow the company's board to effect a 1-for-3 reverse stock split ratio at their 2019 annual meeting.

The reverse stock split would have to take effect no later than May 14, 2020.

In connection with the approval of the reverse stock split, shareholders approved to reduce Dynex Capital's authorized common shares to 90 million from 200 million.