Orchid Island Capital, Inc. (ORC) to Issue Monthly Dividend of $0.12 on January 30th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, December 10th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.27%. The ex-dividend date is Tuesday, December 31st.

Orchid Island Capital has raised its dividend by an average of 164.3% annually over the last three years. Orchid Island Capital has a payout ratio of 576.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Orchid Island Capital to earn $0.22 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 654.5%.

Orchid Island Capital Stock Performance

Shares of Orchid Island Capital stock opened at $7.88 on Friday. The company has a market capitalization of $629.22 million, a P/E ratio of 7.50 and a beta of 1.84. Orchid Island Capital has a 1 year low of $7.41 and a 1 year high of $9.08. The company’s fifty day moving average is $7.85 and its two-hundred day moving average is $8.09.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). During the same period in the previous year, the company earned ($0.28) EPS. As a group, equities analysts expect that Orchid Island Capital will post -0.25 earnings per share for the current year.

Orchid Island Capital Company Profile

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.