Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) announced a monthly dividend on Wednesday, October 16th, NASDAQ reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.44 annualized dividend and a dividend yield of 17.89%. The ex-dividend date of this dividend is Thursday, October 31st.
Orchid Island Capital has increased its dividend payment by an average of 164.3% per year over the last three years. Orchid Island Capital has a payout ratio of 2,400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Orchid Island Capital to earn $0.09 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 1,600.0%.
Orchid Island Capital Stock Up 0.2 %
ORC traded up $0.02 during trading on Thursday, reaching $8.05. 1,691,057 shares of the stock traded hands, compared to its average volume of 1,581,431. The stock has a market capitalization of $426.44 million, a PE ratio of -15.21 and a beta of 1.85. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $9.08. The stock’s 50-day moving average is $8.11 and its 200 day moving average is $8.33.
Wall Street Analysts Forecast Growth
About Orchid Island Capital
Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.
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