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Orchid Island Capital Announces May 2025 Monthly Dividend and April 30, 2025 RMBS Portfolio Characteristics

1. Orchid Island Capital declares a monthly dividend of $0.12 per share. 2. Next dividend announcement set for June 10, 2025. 3. Company must distribute at least 90% of taxable income as a REIT. 4. No guaranteed minimum distribution established; future payments uncertain. 5. Company's RMBS portfolio consists primarily of agency securities.

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FAQ

Why Bullish?

The declaration of a monthly dividend indicates financial stability and potential investor attraction. Similar announcements historically lead to positive stock price reactions for REITs like ORC.

How important is it?

The dividend announcement and REIT compliance details are critical for investor decisions, indicating a relatively strong signal about financial health and attractiveness of ORC.

Why Short Term?

The upcoming dividend payment and announcement may generate immediate investor interest. Past dividend payments cleared in the short term positively influenced stock prices.

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NASDAQ: RMBSNYSE: AGNC
 ●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”) (NYSE: 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)     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)  (377,500)Jun-25  (7,967)  7,789 10-Year Treasury Future(3)  (193,500)Jun-25  (6,199)  6,138 10-Year Ultra Treasury Future(4)  (137,500)Jun-25  (6,170)  5,909 Swaps  (3,435,300)Jan-31  (88,630)  85,559 TBA  (200,000)May-25  (4,884)  5,297 Hedge Total $(4,458,800)  $(115,000) $111,842 Rate Shock Grand Total      $(21,850) $2,058  (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 $109.20 at April 30, 2025. The market value of the short position was $412.2 million.(3)Ten-year Treasury futures contracts were valued at prices of $112.22 at April 30, 2025. The market value of the short position was $217.2 million.(4)Ten-year Ultra Treasury futures contracts were valued at prices of $114.73 at April 30, 2025. The market value of the short position was $157.8 million. RMBS Assets by Agency        ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of April 30, 2025        Fannie Mae $3,783,477   61.1%Freddie Mac  2,404,838   38.9%Total Mortgage Assets $6,188,315   100.0% Investment Company Act of 1940 Whole Pool Test ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of April 30, 2025        Non-Whole Pool Assets $299,950   4.8%Whole Pool Assets  5,888,365   95.2%Total Mortgage Assets $6,188,315   100.0% Borrowings By Counterparty              ($ in thousands)                       Weighted  Weighted        % of  Average  Average    Total  Total  Repo  Maturity LongestAs of April 30, 2025 Borrowings  Debt  Rate  in Days MaturityJ.P. Morgan Securities LLC $358,603  6.2% 4.46% 15 5/21/2025Merrill Lynch, Pierce, Fenner & Smith  332,720  5.7% 4.50% 25 6/13/2025Wells Fargo Bank, N.A.  313,708  5.4% 4.46% 59 7/16/2025Citigroup Global Markets Inc  313,483  5.4% 4.50% 27 5/28/2025ABN AMRO Bank N.V.  291,937  5.0% 4.48% 48 6/23/2025StoneX Financial Inc.  290,202  5.0% 4.45% 21 5/28/2025Clear Street LLC  287,102  4.9% 4.47% 19 5/28/2025Daiwa Securities America Inc.  276,183  4.7% 4.49% 22 5/23/2025South Street Securities, LLC  267,923  4.6% 4.46% 58 7/29/2025Goldman, Sachs & Co  265,935  4.6% 4.50% 28 5/28/2025MUFG Securities Canada, Ltd.  260,466  4.5% 4.47% 14 5/22/2025ING Financial Markets LLC  257,355  4.4% 4.48% 9 5/13/2025DV Securities, LLC Repo  253,937  4.4% 4.45% 25 5/28/2025RBC Capital Markets, LLC  251,948  4.3% 4.46% 52 6/23/2025ASL Capital Markets Inc.  249,316  4.3% 4.45% 21 6/13/2025Marex Capital Markets Inc.  242,091  4.2% 4.45% 27 5/29/2025Mirae Asset Securities (USA) Inc.  241,484  4.2% 4.52% 74 9/15/2025Cantor Fitzgerald & Co  224,831  3.9% 4.46% 12 5/22/2025Bank of Montreal  200,551  3.4% 4.50% 22 5/23/2025Mitsubishi UFJ Securities (USA), Inc.  200,503  3.4% 4.46% 42 6/12/2025The Bank of Nova Scotia  140,934  2.4% 4.50% 21 5/21/2025Banco Santander SA  139,659  2.4% 4.50% 16 5/16/2025Nomura Securities International, Inc.  120,432  2.1% 4.48% 34 6/20/2025Lucid Prime Fund, LLC  35,296  0.6% 4.50% 15 5/15/2025Total Borrowings $5,816,599  100.0% 4.47% 30 9/15/2025 Contact: Orchid Island Capital, Inc.Robert E. Cauley3305 Flamingo Drive, Vero Beach, Florida 32963Telephone: (772) 231-1400

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