Orchid Island Capital Announces May 2025 Monthly Dividend and April 30, 2025 RMBS Portfolio Characteristics
-- May 2025 Monthly Dividend of $0.12 Per Share of Common
Stock
-- RMBS Portfolio Characteristics as of April 30, 2025
-- Next Dividend Announcement Expected June 10, 2025
Vero Beach, Fla., May 07, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") $(ORC)$ announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of May 2025. The dividend of $0.12 per share will be paid June 27, 2025 to holders of record of the Company's common stock on May 30, 2025, with an ex-dividend date of May 30, 2025. The Company plans on announcing its next common stock dividend on June 10, 2025.
The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust ("REIT"), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.
As of May 7, 2025, the Company had 109,219,994 shares of common stock outstanding. As of April 30, 2025, the Company had 108,823,792 shares of common stock outstanding. As of March 31, 2025, the Company had 107,786,614 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of April 30, 2025 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate:
-- RMBS Valuation Characteristics -- RMBS Assets by Agency -- Investment Company Act of 1940 (Whole Pool) Test Results -- Repurchase Agreement Exposure by Counterparty -- RMBS Risk Measures
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company's distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.'s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
RMBS Valuation Characteristics
($ in thousands)
Realized
Realized Feb 25 -
Apr-25 Apr-25
Net Weighted CPR CPR
Weighted Average (1-Month) (3-Month) Modeled Interest
Current Fair % of Current Average Maturity (Reported (Reported Rate Sensitivity (1)
Type Face Value Portfolio Price Coupon GWAC Age (Months) in May) in May) (-50 BPS) (+50 BPS)
----------------- ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ----------- ---------
Fixed Rate RMBS
-----------------
15yr 5.0 TBA $ 100,000 $ 100,238 1.62% 100.24 5.00% 5.85% 9 166 n/a n/a $ 1,220 $ (1,435)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
15yr Total 100,000 100,238 1.62% 100.24 5.00% 5.85% 9 166 n/a n/a 1,220 (1,435)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
30yr 3.0 868,857 766,169 12.38% 88.18 3.00% 3.48% 50 302 6.0% 6.0% 22,624 (23,153)
30yr 3.5 170,830 156,440 2.53% 91.58 3.50% 4.04% 62 285 7.6% 5.7% 4,264 (4,360)
30yr 4.0 162,336 152,389 2.46% 93.87 4.00% 4.70% 48 307 7.0% 4.3% 3,833 (4,046)
30yr 4.5 293,146 281,168 4.54% 95.91 4.50% 5.44% 34 322 15.9% 9.8% 5,889 (6,476)
30yr 5.0 430,517 423,705 6.85% 98.42 5.00% 5.92% 29 325 4.2% 6.0% 8,345 (9,398)
30yr 5.5 575,097 578,901 9.35% 100.66 5.50% 6.45% 14 341 7.6% 5.8% 9,891 (11,763)
30yr 6.0 2,063,362 2,110,887 34.11% 102.30 6.00% 6.96% 10 345 8.0% 8.0% 24,905 (32,234)
30yr 6.5 1,256,119 1,304,023 21.07% 103.81 6.50% 7.44% 13 343 12.9% 9.1% 10,175 (14,243)
30yr 7.0 284,983 299,139 4.83% 104.97 7.00% 7.95% 18 334 28.1% 22.4% 2,170 (2,783)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
30yr Total 6,105,247 6,072,821 98.13% 99.47 5.41% 6.27% 22 333 9.7% 8.2% 92,096 (108,456)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Pass-Through
MBS 6,205,247 6,173,059 99.75% 99.48 5.40% 6.27% 22 330 9.7% 8.2% 93,316 (109,891)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Structured MBS
-----------------
IO 20yr 4.0 6,460 584 0.01% 9.04 4.00% 4.57% 159 74 11.6% 9.8% 3 (3)
IO 30yr 3.0 2,507 307 0.00% 12.23 3.00% 3.64% 123 227 22.7% 8.8% (1) -
IO 30yr 4.0 69,142 13,154 0.21% 19.03 4.00% 4.60% 128 223 2.7% 3.8% (271) 195
IO 30yr 4.5 3,000 556 0.01% 18.53 4.50% 4.99% 178 169 7.8% 7.6% (6) 3
IO 30yr 5.0 1,571 333 0.01% 21.19 5.00% 5.37% 178 169 1.4% 16.8% (5) 3
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
IO Total 82,680 14,934 0.24% 18.06 4.01% 4.59% 133 208 4.2% 4.8% (280) 198
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
IIO 30yr 4.0 20,837 322 0.01% 1.54 0.00% 4.40% 91 257 7.8% 3.0% 114 (91)
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Structured
RMBS 103,517 15,256 0.25% 14.74 3.20% 4.56% 125 218 4.9% 4.5% (166) 107
------------------ --------- --------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Mortgage
Assets $6,308,764 $6,188,315 100.00% 5.37% 6.24% 24 328 9.6% 8.2% $ 93,150 $(109,784)
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May 07, 2025 16:42 ET (20:42 GMT)
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