Split History
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Dynex Capital (DX) has 3 splits in our DX split history database. The first split for DX took place on May 27, 1997. This was a 2 for 1 split, meaning for each share of DX owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. DX's second split took place on August 02, 1999. This was a 1 for 4 reverse split, meaning for each 4 shares of DX owned pre-split, the shareholder now owned 1 share. For example, a 2000 share position pre-split, became a 500 share position following the split. DX's third split took place on June 21, 2019. This was a 1 for 3 reverse split, meaning for each 3 shares of DX owned pre-split, the shareholder now owned 1 share. For example, a 500 share position pre-split, became a 166.666666666667 share position following the split.
When a company such as Dynex Capital splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Dynex Capital conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the DX split history from start to finish, an original position size of 1000 shares would have turned into 166.666666666667 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Dynex Capital shares, starting with a $10,000 purchase of DX, presented on a split-history-adjusted basis factoring in the complete DX split history.
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Growth of $10,000.00 With Dividends Reinvested |
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| Start date: | 04/22/2014 | ||
| End date: | 04/17/2024 | ||
| Start price/share: | $25.98 | ||
| End price/share: | $11.52 | ||
| Starting shares: | 384.91 | ||
| Ending shares: | 1,201.09 | ||
| Dividends reinvested/share: | $20.71 | ||
| Total return: | 38.37% | ||
| Average Annual Total Return: | 3.30% | ||
| Starting investment: | $10,000.00 | ||
| Ending investment: | $13,833.31 | ||
| Years: | 9.99 | ||
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Growth of $10,000.00 Without Dividends Reinvested |
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| Start date: | 04/22/2014 | ||
| End date: | 04/17/2024 | ||
| Start price/share: | $25.98 | ||
| End price/share: | $11.52 | ||
| Dividends collected/share: | $20.71 | ||
| Total return: | 24.06% | ||
| Average Annual Total Return: | 2.18% | ||
| Starting investment: | $10,000.00 | ||
| Ending investment: | $12,405.31 | ||
| Years: | 9.99 | ||
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| About Dynex Capital |
| Dynex Capital is an internally managed mortgage real estate investment trust, which primarily invests in residential and commercial mortgage-backed securities (MBS). Co. finances its investments principally with borrowings under repurchase agreements. Co. is primarily invested in Agency MBS including residential MBS, commercial MBS (CMBS) and CMBS interest-only (IO) securities. Agency MBS have an implicit guaranty of principal payment by an agency of the U.S. government or a U.S. government-sponsored entity. Co. also has investments in non-Agency MBS, which consist mainly of CMBS IO. Non-Agency MBS are issued by non-governmental enterprises and do not have a guaranty of principal payment. According to our DX split history records, Dynex Capital has had 3 splits. |
| DX Split History Table | |
| Date | Ratio |
| 05/27/1997 | 2 for 1 |
| 08/02/1999 | 1 for 4 |
| 06/21/2019 | 1 for 3 |
| Financials Stock Splits |
| DX is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:
DXD Split History Also explore: DX shares outstanding history
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