Orchid Island Capital Increases Share Buyback Authorization

Dow Jones
06/23
 

By Stephen Nakrosis

 

Orchid Island Capital said its board approved an increase to the existing share repurchase plan, adding 25 million shares to its authorization.

The increase raises the authorization to a total of up to 26.6 million shares, about 13.3% of the company's currently outstanding shares, Orchard Island added.

Orchid Island said its estimated current book value per share is about $7.24 to $7.28 per share as of June 18.

The specialty finance company has a market capitalization of $1.34 billion, 200.7 million shares outstanding, and a public float of 200.3 million shares.

The stock ended the day's regular session with a 1.19% loss, closing at $6.62.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 22, 2026 17:07 ET (21:07 GMT)

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