Holders of several classes of Dynex Capital (NYSE:DX) stock are about to get a little more money in their accounts. The company has declared a set of dividends for its Q3, mainly a $0.27-per-share common stock distribution to be paid on October 31 to shareholders of record as of October 7. That amount is $0.02 lower than the mortgage REIT's previous payout of $0.29, which was dispensed at the end of July.
Preferred stockholders will also receive dividends. The company will dispense $0.53125 per share of its series A preferreds, while possessors of its series B preferreds are to be paid $0.4765625 per share. Both disbursements will be made on October 15 to holders of record as of October 1.
The just-declared common stock dividend annualizes to $1.08 per share. That yields 12.4% at Dynex Capital's most recent closing stock price of $8.68.
Fool contributor Eric Volkman has no position in Dynex Capital. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.