-- September 2025 Monthly Dividend of $0.12 Per Share of Common Stock -- RMBS Portfolio Characteristics as of August 31, 2025 -- Next Dividend Announcement Expected October 15, 2025
VERO BEACH, Fla., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of September 2025. The dividend of $0.12 per share will be paid October 30, 2025 to holders of record of the Company's common stock on September 30, 2025, with an ex-dividend date of September 30, 2025. The Company plans on announcing its next common stock dividend on October 15, 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 September 8, 2025, the Company had 146,130,135 shares of common stock outstanding. As of August 31, 2025, the Company had 141,863,067 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of August 31, 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 Jun-25 -
Aug-25 Aug-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 Sep) in Sep) (-50 BPS) (+50 BPS)
----------------- ---------- ---------- ----------- ------- ---------- -------- --- -------- ----------- ----------- --------- ------------
Fixed Rate RMBS
-----------------
15yr 5.0 TBA $ 250,000 $ 252,617 3.07% 101.05 5.00% 5.84% 4 174 n/a n/a $ 2,900 $ (3,532)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ --- ------ --- ------- --------
15yr Total 250,000 252,617 3.07% 101.05 5.00% 5.84% 4 174 n/a n/a 2,900 (3,532)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ --- ------ --- ------- --------
30yr 3.0 $ 841,083 $ 744,124 9.05% 88.47 3.00% 3.48% 54 298 6.7% 7.0% $ 21,908 $ (22,062)
30yr 3.5 164,582 151,262 1.84% 91.91 3.50% 4.04% 66 281 10.6% 9.6% 4,146 (4,172)
30yr 4.0 157,284 148,319 1.80% 94.30 4.00% 4.70% 52 303 5.6% 7.3% 3,851 (3,993)
30yr 4.5 281,933 273,042 3.32% 96.85 4.50% 5.44% 38 317 11.2% 11.1% 5,791 (6,359)
30yr 5.0 451,421 447,911 5.45% 99.22 5.00% 5.93% 31 323 8.6% 9.0% 9,062 (10,243)
30yr 5.5 1,753,845 1,779,536 21.65% 101.46 5.50% 6.45% 11 346 3.9% 5.8% 29,277 (36,094)
30yr 6.0 2,492,617 2,569,706 31.26% 103.09 6.00% 6.93% 12 344 9.7% 9.1% 27,452 (37,912)
30yr 6.5 1,504,121 1,571,364 19.12% 104.47 6.50% 7.39% 14 342 10.7% 14.0% 10,800 (16,491)
30yr 7.0 252,767 266,861 3.25% 105.58 7.00% 7.94% 22 330 26.8% 24.5% 1,728 (2,283)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
30yr Total 7,899,653 7,952,125 96.75% 100.66 5.49% 6.36% 21 334 8.8% 9.8% 114,015 (139,609)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
Total
Pass-Through
RMBS 8,149,653 8,204,742 99.82% 100.68 5.48% 6.35% 20 329 8.8% 9.8% 116,915 (143,141)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
Structured RMBS
-----------------
IO 20yr 4.0 5,891 491 0.01% 8.33 4.00% 4.57% 163 71 13.8% 13.2% 2 (2)
IO 30yr 3.0 2,401 293 0.00% 12.19 3.00% 3.64% 127 223 1.0% 10.4% - (1)
IO 30yr 4.0 66,425 12,576 0.15% 18.93 4.00% 4.60% 132 219 4.3% 6.8% (253) 154
IO 30yr 4.5 2,883 530 0.01% 18.39 4.50% 4.99% 182 165 3.4% 7.2% (5) 2
IO 30yr 5.0 1,511 318 0.00% 21.03 5.00% 5.37% 182 165 1.2% 8.2% (5) 3
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
IO Total 79,111 14,208 0.17% 17.96 4.01% 4.59% 137 205 4.8% 7.4% (261) 156
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
IIO 30yr 4.0 19,079 222 0.00% 1.16 0.00% 4.40% 95 253 12.4% 7.6% 106 (78)
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
Total Structured
RMBS 98,190 14,430 0.18% 14.70 3.23% 4.56% 129 214 6.3% 7.5% (155) 78
----------------- --------- --------- ------- ------- ------ ---- --- -------- ------ ------ ------- --------
Total Mortgage
Assets $8,247,843 $8,219,172 100.00% 5.45% 6.33% 22 328 8.8% 9.8% $116,760 $(143,063)
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Hedge Modeled Interest
Notional Period Rate Sensitivity (1)
Hedge Balance End (-50 BPS) (+50 BPS)
-------------- ----------- ------ ------------- -----------
3-Month SOFR
Futures $ (355,625) Sep-26 $ (3,556) $ 3,556
5-Year
Treasury
Future(2) (562,500) Dec-25 (11,789) 11,613
10-Year
Treasury
Future(3) (228,500) Dec-25 (7,522) 7,308
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September 08, 2025 16:05 ET (20:05 GMT)