Orchid Island Capital, Inc. Declares July 2025 Monthly Dividend
Orchid Island Capital, Inc. (NYSE: ORC) has announced that its Board of Directors has approved a monthly cash dividend of $0.12 per share for July 2025. This dividend will be distributed on August 28, 2025, to shareholders on record as of July 31, 2025, which is also the ex-dividend date. The company is set to reveal its next dividend announcement on August 13, 2025, and intends to maintain regular monthly cash distributions to its common stockholders.
Regulatory Requirements for Dividend Distributions
The company operates as a real estate investment trust (REIT) and is therefore required to distribute at least 90% of its taxable income to shareholders annually, excluding net capital gains. Failure to distribute the requisite amount will result in the company being subject to income taxes on undistributed taxable income, as well as potential excise taxes if certain distribution thresholds are not met by specified deadlines. Orchid Island Capital has not committed to a minimum level of distributions and cannot guarantee the continuation of dividend payments in the future.
Common Stock Shares Outstanding
As of July 9, 2025, Orchid Island Capital had 126,715,437 shares of common stock outstanding. This figure has increased from 126,566,926 shares as of June 30, 2025, and 107,786,614 shares as of March 31, 2025.
Book Value Per Share as of June 30, 2025
The estimated book value per share for the company as of June 30, 2025, is reported to be $7.21. This figure is derived by dividing the total stockholders’ equity by the total number of outstanding shares. Preliminary estimates indicate that the company’s total stockholders’ equity was around $912.0 million, with 126,566,926 shares outstanding. These estimates are subject to change pending review by the company’s independent registered public accounting firm.
Estimated Net Loss and Impact of RMBS and Derivative Instruments
For the quarter ending June 30, 2025, the company anticipates a net loss of $0.29 per share, which includes an estimated $0.45 per share in net realized and unrealized losses related to residential mortgage-backed securities (RMBS) and derivative instruments. This loss contrasts with total dividends declared in the same quarter, which amounted to $0.36 per share. The calculation of net loss per share under generally accepted accounting principles (GAAP) may differ from the company’s taxable income as a REIT, which is considered a more accurate representation of income available for dividend distributions.
Total Return on Equity Analysis
The estimated total return on equity for the quarter ending June 30, 2025, stands at (4.7)%. This figure is calculated by taking the sum of dividends declared and changes in book value during the quarter, divided by the stockholders’ equity at the quarter’s start. The return equates to $(0.37) per share, which includes dividends of $0.36 and a decline in book value of $(0.73) since March 31, 2025.
Overview of RMBS Portfolio Characteristics
As of June 30, 2025, detailed characteristics of the RMBS portfolio are available, though these figures are preliminary and will be subject to change, as well as review by the independent registered public accounting firm.
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialized finance company that primarily invests in Agency RMBS using leverage. The company’s investment strategy emphasizes two categories of Agency RMBS: traditional pass-through Agency RMBS, which include mortgage pass-through certificates and collateralized mortgage obligations from major agencies such as Fannie Mae, Freddie Mac, or Ginnie Mae, and structured Agency RMBS. Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission, manages the company.
Forward-Looking Statements Disclaimer
This press release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements reflect the company’s current expectations and should not be viewed as guarantees of future outcomes. Investors are advised against placing excessive reliance on these forward-looking statements. For further insights into potential risks, investors should refer to the “Risk Factors” section of the company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024.
RMBS Valuation Characteristics
Details regarding RMBS valuation characteristics, including realized and unrealized losses, are provided, with financial metrics displayed in thousands. These metrics offer insights into the performance and risk profile of the company’s RMBS assets as of June 30, 2025.
RMBS Assets by Agency
As of June 30, 2025, the company’s RMBS assets are primarily categorized by agency, with Fannie Mae accounting for a significant portion of the assets at 63.2%, while Freddie Mac makes up the remaining 36.8%.
Borrowings Overview
The company has detailed its borrowings by counterparty, providing insights into the weighted average rates and maturity periods associated with these debts as of June 30, 2025. This information is crucial for understanding the company’s financing structure and associated risks.
Contact Information
For further inquiries, Orchid Island Capital, Inc. can be reached at their office in Vero Beach, Florida.
