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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Monday, September 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 29th. This represents a c) dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date is Wednesday, September 30th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Orchid Island Capital has a payout ratio of 151.9% meaning 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 Stock Down 1.2%

Shares of ORC stock opened at $6.25 on Tuesday. Orchid Island Capital has a 1-year low of $6.22 and a 1-year high of $8.40. The stock’s fifty day moving average price is $6.62 and its 200 day moving average price is $6.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 509.34 and a quick ratio of 509.34. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 4.23 and a beta of 1.55.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $59.97 million during the quarter, compared to the consensus estimate of $74.26 million.

Orchid Island Capital announced that its Board of Directors has authorized a share buyback program on Monday, June 22nd that allows the company to buyback 25,000,000,000,000 outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Orchid Island Capital

Orchid Island Capital, Inc is a real estate investment trust (REIT) focused on investing in residential mortgage-backed securities (RMBS). Its portfolio primarily consists of agency RMBS, which are securities issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae and Freddie Mac, or by government agencies such as Ginnie Mae.

The company seeks to generate income from its investments and finances portions of its portfolio through borrowings, including repurchase agreements.