GLEN ALLEN, Va. - Dynex Capital, Inc. (NYSE: NYSE:DX), a real estate investment trust (REIT), has announced the appointment of Marie Chandoha to its Board of Directors, effective June 1, 2024. Chandoha, with nearly 40 years of asset management experience, joins the Board as an independent director and will serve on the Audit Committee and Nominating & Corporate Governance Committee.
The addition of Chandoha expands the Board to seven directors, five of whom are independent, following the recent appointments of Andrew Gray and Alexander Crawford. Chandoha's extensive background includes her former role as CEO of Charles Schwab (NYSE:SCHW) Investment Management, where she doubled the firm's assets under management to $400 billion. She currently holds positions with State Street Corporation (NYSE:STT), as Chair of its Risk Committee, and Macy's (NYSE:M), where she is Chair of the Audit Committee.
Byron Boston, CEO and Chairman of Dynex Capital, expressed his enthusiasm for Chandoha's appointment, highlighting her experience in asset and risk management as valuable assets to the company's growth strategy. Boston anticipates that her expertise will enhance the company's ability to capitalize on market opportunities for the benefit of its investors, employees, and communities.
Chandoha's career includes significant achievements in financial services and leadership. She has been recognized for her ability to transform and scale businesses, as evidenced by her success at Charles Schwab Investment Management. Her previous experience also includes driving innovation in the ETF market as the Managing Director and Global Head of Fixed Income Business at BlackRock (NYSE:BLK), and growing Wells Fargo (NYSE:WFC) Asset Management's Montgomery Fixed Income business from $1 billion to $16 billion in assets under management.
Dynex Capital, committed to ethical stewardship and comprehensive risk management, focuses on generating dividend income and long-term returns through diversified financing of real estate assets in the U.S. The announcement of Chandoha's appointment is based on a press release statement from Dynex Capital.
InvestingPro Insights
Dynex Capital, Inc. (NYSE: DX) has recently bolstered its Board of Directors with the appointment of Marie Chandoha, a move that reflects the company's commitment to strong leadership and strategic growth. Investors and industry observers may be interested in how the company's financial metrics align with these recent developments.
InvestingPro data shows a market capitalization of approximately $779.56 million USD, with a notable P/E ratio of 10.07, adjusting to 11.46 over the last twelve months as of Q1 2024. This valuation comes in the context of impressive revenue growth, reported at 507.94% for the same period.
Dynex Capital's ability to maintain a significant dividend yield, currently at 12.99%, is a testament to its financial health and a key point of interest for income-focused investors. This is further underscored by the company's track record of maintaining dividend payments for 17 consecutive years, an InvestingPro Tip that highlights the firm's commitment to shareholder returns.
While analysts forecast a sales decline in the current year, another InvestingPro Tip points out that Dynex Capital has been profitable over the last twelve months, which may reassure investors looking for stability in earnings.
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