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

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, November 12th. Shareholders of record on Friday, November 28th will be paid a dividend of 0.12 per share by the real estate investment trust on Tuesday, December 30th. This represents a c) annualized dividend and a yield of 19.8%. The ex-dividend date of this dividend is Friday, November 28th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Orchid Island Capital has a dividend 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. 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

ORC opened at $7.29 on Friday. The firm’s fifty day moving average is $7.23 and its two-hundred day moving average is $7.14. The firm has a market cap of $1.11 billion, a PE ratio of 14.88 and a beta of 1.57. Orchid Island Capital has a twelve month low of $5.68 and a twelve month high of $9.01.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $77.52 million during the quarter, compared to the consensus estimate of $25.33 million. Equities analysts forecast that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

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.