Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on October 30th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, October 14th. Stockholders of record on Friday, October 30th will be given a dividend of $0.10 per share by the real estate investment trust on Friday, November 27th. This represents a $1.20 annualized dividend and a dividend yield of 23.7%. The ex-dividend date of this dividend is Friday, October 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 Trading Up 0.5%

Shares of ORC stock opened at $5.07 on Wednesday. Orchid Island Capital has a 52-week low of $4.75 and a 52-week high of $8.40. The business’s fifty day moving average is $5.83 and its 200 day moving average is $6.78.

Orchid Island Capital (NYSE:ORC) last posted its earnings results on Thursday, October 22nd. The real estate investment trust reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.19). The company had revenue of $59.13 million during the quarter, compared to analyst estimates of $73.41 million.

About Orchid Island Capital

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

The company seeks to generate income from its mortgage investments, primarily through the difference between the returns on its assets and the cost of financing those assets.