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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, March 18th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Wednesday, April 29th. This represents a c) dividend on an annualized basis and a dividend yield of 20.2%. The ex-dividend date of this dividend is Tuesday, March 31st.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a payout ratio of 182.3% indicating that 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 $0.43 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 334.9%.

Orchid Island Capital Stock Performance

Shares of NYSE ORC opened at $7.14 on Thursday. The business has a fifty day simple moving average of $7.67 and a 200 day simple moving average of $7.39. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 6.86 and a beta of 1.67. Orchid Island Capital has a one year low of $5.68 and a one year high of $8.44.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $124.78 million for the quarter, compared to analyst estimates of $35.74 million. Sell-side analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.