Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on December 30th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 dividend on an annualized basis and a yield of 18.54%. The ex-dividend date is Friday, November 29th.

Orchid Island Capital has increased its dividend payment by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 1,028.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Orchid Island Capital to earn $0.22 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 654.5%.

Orchid Island Capital Stock Performance

NYSE ORC opened at $7.77 on Friday. Orchid Island Capital has a one year low of $7.00 and a one year high of $9.08. The company has a market capitalization of $608.93 million, a price-to-earnings ratio of 7.40 and a beta of 1.85. The company’s 50-day simple moving average is $7.97 and its two-hundred day simple moving average is $8.23.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). During the same quarter in the prior year, the firm earned ($0.28) earnings per share. Equities analysts expect that Orchid Island Capital will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.