Form: 8-K

Current report filing

March 30, 2004

Documents

8-K: Current report filing

Published on March 30, 2004


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549


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FORM 8-K
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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report: March 29, 2004
(Date of earliest event reported)


DYNEX CAPITAL, INC.
(Exact Name of Registrant as Specified in Charter)



1-9819
(Commission File Number)





Virginia 52-1549373
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

4551 Cox Road, Suite 300, Glen Allen, Virginia 23060
(Address of principal executive offices) (Zip Code)




(804) 217-5800
(Registrant's telephone number, including area code)


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Item 5. Other Events and Regulation FD Disclosure.

On March 29, 2004, the Registrant announced that it is commencing an
exchange offer for up to 70% of its three series of Preferred Stock, and is
simultaneously seeking shareholder approval, at meetings scheduled to be held on
April 29, 2004, of certain aspects of its previously-announced recapitalization
plan. The exchange offer and the approvals being sought from Dynex Capital's
preferred and common stockholders involve separate components of a plan designed
to eliminate the dividends in arrears on the three series of Preferred Stock and
to recapitalize Dynex Capital.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits

Exhibit No. Description

99.1 Press release issued by the Registrant dated
March 29, 2004.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

DYNEX CAPITAL, INC.
(Registrant)


Date: March 30, 2004 By: /s/ Stephen J. Benedetti
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Stephen J. Benedetti
Executive Vice President and
Chief Financial Officer
Exhibit Index


Exhibit No. Description

99.1 Press release issued by the Registrant on March 29, 2004.