Vero Beach, Fla., June 10, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYS...


        
        
        
        
        

        






    



            







    
        
            June 10, 2025 16:10 ET
        

        
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                Orchid Island Capital, Inc.
            
                

        
    

    

    

    





        
        
        
            
            
June 2025 Monthly Dividend of $0.12 Per Share of Common StockRMBS Portfolio Characteristics as of May 31, 2025Next Dividend Announcement Expected July 9, 2025    Vero Beach, Fla., June  10, 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 June 2025. The dividend of $0.12 per share will be paid July 30, 2025 to holders of record of the Company’s common stock on June 30, 2025, with an ex-dividend date of June 30, 2025. The Company plans on announcing its next common stock dividend on July 9, 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 June 10, 2025, the Company had 121,210,845 shares of common stock outstanding. As of May 31, 2025, the Company had 119,072,481 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 May 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 CharacteristicsRMBS Assets by AgencyInvestment Company Act of 1940 (Whole Pool) Test ResultsRepurchase Agreement Exposure by CounterpartyRMBS 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, the offer and sale of shares of common stock under the Equity Distribution Agreement or follow-on offerings. 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 Mar 25 -                                     Jun-25 Jun-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 Jun) in Jun) (-50 BPS) (+50 BPS)Fixed Rate RMBS                                                15yr 5.0 TBA $250,000  $249,951   3.75%  99.98   5.00%  5.85%  10   165   n/a   n/a  $3,252  $(3,789)15yr Total  250,000   249,951   3.75%  99.98   5.00%  5.85%  10   165   n/a   n/a   3,252   (3,789)30yr 3.0  861,726   746,897   11.21%  86.67   3.00%  3.48%  51   301   6.5%  6.6%  22,295   (22,828)30yr 3.5  169,289   152,575   2.29%  90.13   3.50%  4.04%  63   284   7.0%  7.5%  4,206   (4,297)30yr 4.0  160,895   148,817   2.23%  92.49   4.00%  4.70%  49   306   3.9%  6.4%  3,862   (4,051)30yr 4.5  291,390   276,107   4.14%  94.76   4.50%  5.44%  35   320   10.2%  10.8%  6,103   (6,645)30yr 5.0  428,300   416,608   6.25%  97.27   5.00%  5.92%  30   324   12.2%  7.2%  8,760   (9,681)30yr 5.5  1,008,504   1,007,274   15.12%  99.88   5.50%  6.44%  11   345   7.7%  7.3%  19,338   (22,476)30yr 6.0  2,046,921   2,083,373   31.27%  101.78   6.00%  6.96%  11   344   9.4%  8.6%  27,658   (34,815)30yr 6.5  1,238,228   1,280,378   19.22%  103.40   6.50%  7.44%  14   342   14.6%  14.3%  11,816   (16,067)30yr 7.0  273,306   286,323   4.30%  104.76   7.00%  7.94%  19   334   30.2%  33.0%  2,291   (2,961)30yr Total  6,478,559   6,398,352   96.02%  98.76   5.41%  6.28%  22   333   10.6%  10.4%  106,329   (123,821)Total Pass-Through MBS  6,728,559   6,648,303   99.78%  98.81   5.40%  6.26%  22   327   10.6%  10.4%  109,581   (127,610)Structured MBS                                                IO 20yr 4.0  6,317   563   0.01%  8.91   4.00%  4.57%  160   73   12.2%  11.7%  3   (3)IO 30yr 3.0  2,491   303   0.00%  12.15   3.00%  3.64%  124   226   1.0%  9.7%  -   (1)IO 30yr 4.0  68,512   12,959   0.19%  18.91   4.00%  4.60%  129   222   3.9%  4.1%  (214)  144 IO 30yr 4.5  2,970   546   0.01%  18.39   4.50%  4.99%  179   168   6.8%  7.1%  (4)  1 IO 30yr 5.0  1,563   329   0.00%  21.05   5.00%  5.37%  179   168   1.6%  1.4%  (4)  2 IO Total  81,853   14,700   0.22%  17.96   4.01%  4.59%  134   207   4.5%  4.9%  (219)  143 IIO 30yr 4.0  20,327   240   0.00%  1.18   0.00%  4.40%  92   256   7.0%  7.6%  (74)  (130)Total Structured RMBS  102,180   14,940   0.22%  14.62   3.21%  4.56%  126   217   5.0%  5.4%  (293)  13                                                  Total Mortgage Assets $6,830,739  $6,663,243   100.00%      5.36%  6.24%  23   325   10.5%  10.3% $109,288  $(127,597)         Hedge Modeled Interest  Notional Period Rate Sensitivity (1)Hedge Balance End (-50 BPS) (+50 BPS)3-Month SOFR Futures $(115,000) Aug-26  $(1,150) $1,150 5-Year Treasury Future(2)  (487,500) Sep-25   (10,081)  9,928 10-Year Treasury Future(3)  (333,500) Sep-25   (10,869)  10,451 10-Year Ultra Treasury Future(4)  (197,500) Sep-25   (8,569)  8,229 ERIS Swap Futures  (10,000) Jun-25   (228)  222 Swaps  (3,517,800) Jan-31   (88,542)  85,510 TBAs  (200,000) Jun-25   (5,037)  5,435 Hedge Total $(4,861,300)    $(124,476) $120,925 Rate Shock Grand Total        $(15,188) $(6,672)    (1) Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially.(2) Five-year Treasury futures contracts were valued at prices of $108.19 at May 31, 2025. The market value of the short position was $527.4 million.(3) Ten-year Treasury futures contracts were valued at prices of $110.75 at May 31, 2025. The market value of the short position was $369.4 million.(4) Ten-year Ultra Treasury futures contracts were valued at prices of $112.55 at May 31, 2025. The market value of the short position was $222.3 million.       RMBS Assets by Agency($ in thousands)      Percentage  Fair ofAsset Category Value PortfolioAs of May 31, 2025        Fannie Mae $3,938,461   61.4%Freddie Mac  2,474,831   38.6%Total Mortgage Assets $6,413,292   100.0%    Investment Company Act of 1940 Whole Pool Test($ in thousands)      Percentage  Fair ofAsset Category Value PortfolioAs of May 31, 2025        Non-Whole Pool Assets $231,057   3.6%Whole Pool Assets  6,182,235   96.4%Total Mortgage Assets $6,413,292   100.0%     Borrowings By Counterparty($ in thousands)          Weighted Weighted        % of Average Average    Total Total Repo Maturity LongestAs of May 31, 2025 Borrowings Debt Rate in Days MaturityJ.P. Morgan Securities LLC $348,713   5.7%  4.48%  15  6/23/2025Merrill Lynch, Pierce, Fenner & Smith  330,918   5.4%  4.49%  21  6/23/2025Wells Fargo Bank, N.A.  312,141   5.1%  4.47%  37  7/16/2025Goldman, Sachs & Co  307,973   5.0%  4.47%  29  6/30/2025Citigroup Global Markets Inc  306,527   5.0%  4.48%  29  6/30/2025DV Securities, LLC Repo  299,120   4.9%  4.48%  45  7/28/2025ING Financial Markets LLC  297,873   4.9%  4.48%  20  6/23/2025ABN AMRO Bank N.V.  291,423   4.7%  4.48%  22  6/23/2025Mirae Asset Securities (USA) Inc.  285,682   4.7%  4.43%  135  11/13/2025Marex Capital Markets Inc.  284,682   4.6%  4.47%  21  6/23/2025StoneX Financial Inc.  284,312   4.6%  4.47%  17  6/18/2025Clear Street LLC  281,457   4.6%  4.48%  25  7/14/2025ASL Capital Markets Inc.  276,480   4.5%  4.47%  46  7/18/2025Daiwa Securities America Inc.  271,816   4.4%  4.48%  21  6/23/2025South Street Securities, LLC  267,923   4.4%  4.46%  27  7/29/2025MUFG Securities Canada, Ltd.  259,157   4.2%  4.46%  11  6/20/2025Mitsubishi UFJ Securities (USA), Inc.  255,687   4.2%  4.47%  21  7/21/2025RBC Capital Markets, LLC  251,928   4.1%  4.46%  21  6/27/2025Cantor Fitzgerald & Co  250,496   4.1%  4.49%  11  6/12/2025Bank of Montreal  196,402   3.2%  4.49%  22  6/23/2025The Bank of Nova Scotia  186,245   3.0%  4.48%  30  7/21/2025Banco Santander SA  137,790   2.2%  4.50%  16  6/16/2025Nomura Securities International, Inc.  118,935   1.9%  4.49%  16  6/20/2025Lucid Prime Fund, LLC  34,901   0.6%  4.49%  12  6/12/2025Total Borrowings $6,138,581   100.0%  4.47%  29  11/13/2025                    
            







        



    
        
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Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
            
        

    


        

        
        
        
    

Orchid Island Capital Announces June 2025 Monthly Dividend and May 31, 2025 RMBS Portfolio Characteristics

Orchid Island Capital announced a June 2025 dividend of $0.12 per share.
Next dividend announcement expected on July 9, 2025.
The company must distribute 90% of taxable income to maintain REIT status.
As of June 10, 2025, ORC had 121 million shares outstanding.
ORC invests mainly in Agency RMBS, focusing on leveraged investment strategies.

Orchid Island Capital Announces June 2025 Monthly Dividend and May 31, 2025 RMBS Portfolio Characteristics

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