Orchid Island Capital, Inc. (NYSE:ORC) to Issue Monthly Dividend of $0.12

Posted by William Tyler on Apr 27th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) declared a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 16.51%. The ex-dividend date is Monday, April 29th.

Orchid Island Capital has decreased its dividend by an average of 23.1% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 553.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.20 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 720.0%.

Orchid Island Capital Stock Performance

NYSE ORC opened at $8.72 on Friday. The company has a fifty day moving average of $8.58 and a 200 day moving average of $8.07. Orchid Island Capital has a 1 year low of $5.90 and a 1 year high of $11.27.

Wall Street Analysts Forecast Growth

ORC has been the subject of a number of research reports. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, April 18th. StockNews.com upgraded shares of Orchid Island Capital to a “sell” rating in a research report on Friday, February 9th.

Get Our Latest Analysis on ORC

Orchid Island Capital Company Profile

(Get Free Report)

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.