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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, October 16th, NASDAQ reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.89%. The ex-dividend date is Thursday, October 31st.

Orchid Island Capital has increased its dividend by an average of 164.3% annually over the last three years. Orchid Island Capital has a payout ratio of 2,400.0% 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 $0.09 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 1,600.0%.

Orchid Island Capital Price Performance

ORC stock traded up $0.02 during midday trading on Thursday, reaching $8.05. 1,691,057 shares of the stock were exchanged, compared to its average volume of 1,581,431. Orchid Island Capital has a 52 week low of $5.90 and a 52 week high of $9.08. The company has a fifty day moving average price of $8.11 and a 200 day moving average price of $8.33. The stock has a market capitalization of $426.44 million, a PE ratio of -15.21 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed 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.