Orchid Island Capital, Inc. Announces Monthly Dividend of $0.10 (NYSE:ORC)

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 17.8%. The ex-dividend date of this dividend is Friday, July 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Orchid Island Capital has a dividend payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Trading Down 0.5%

NYSE:ORC opened at $6.74 on Thursday. Orchid Island Capital has a 52 week low of $6.41 and a 52 week high of $8.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 509.34 and a current ratio of 509.34. The firm’s fifty day moving average is $6.81 and its 200-day moving average is $7.21. The firm has a market cap of $1.35 billion, a P/E ratio of 8.98 and a beta of 1.54.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The business had revenue of ($12.56) million for the quarter, compared to the consensus estimate of $33.03 million.

Orchid Island Capital announced that its board has approved a share repurchase program on Monday, June 22nd that authorizes the company to repurchase 25,000,000,000,000 shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage?backed securities (RMBS), with a primary focus on mortgage pass?through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.