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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, July 8th. Investors of record on Friday, July 31st will be given a dividend of 0.10 per share by the real estate investment trust on Friday, August 28th. This represents a c) annualized dividend and a 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 raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a 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 Stock Down 0.5%

ORC stock opened at $6.74 on Thursday. Orchid Island Capital has a fifty-two week low of $6.41 and a fifty-two week high of $8.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 509.34 and a quick ratio of 509.34. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 8.98 and a beta of 1.54. The business’s fifty day moving average price is $6.81 and its two-hundred day moving average price is $7.21.

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

About Orchid Island Capital

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.