Orchid Island Capital, Inc. (NYSE:ORC) to Issue Monthly Dividend of $0.10

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, May 13th. Shareholders of record on Friday, May 29th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 29th. This represents a c) annualized dividend and a yield of 17.3%. The ex-dividend date of this dividend is Friday, May 29th.

Orchid Island Capital has decreased its dividend by an average of 0.2%annually 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 151.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Price Performance

NYSE ORC opened at $6.96 on Thursday. The company has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $7.36. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 9.27 and a beta of 1.57. Orchid Island Capital has a 52 week low of $6.62 and a 52 week high of $8.40. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.26.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of ($12.56) million during the quarter, compared to the consensus estimate of $33.03 million.

Orchid Island Capital Company Profile

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.