Orchid Island Capital, Inc. (NYSE:ORC) Declares Monthly Dividend of $0.12

Posted by Jay Halladay on Apr 28th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) declared a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, May 30th. This represents a $1.44 annualized dividend and a yield of 16.51%. The ex-dividend date is Monday, April 29th.

Orchid Island Capital has decreased its dividend by an average of 23.1% per year over the last three years. Orchid Island Capital has a payout ratio of 553.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.20 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 720.0%.

Orchid Island Capital Price Performance

NYSE:ORC opened at $8.72 on Friday. Orchid Island Capital has a 1-year low of $5.90 and a 1-year high of $11.27. The business’s fifty day moving average price is $8.58 and its 200 day moving average price is $8.07.

Wall Street Analysts Forecast Growth

ORC has been the topic of several recent analyst reports. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, April 18th. StockNews.com raised Orchid Island Capital to a “sell” rating in a research report on Friday, February 9th.

Get Our Latest Stock Analysis on Orchid Island Capital

Orchid Island Capital Company Profile

(Get Free Report)

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.