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

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, February 11th. Investors of record on Friday, February 27th will be paid a dividend of 0.12 per share by the real estate investment trust on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 19.1%. The ex-dividend date is Friday, February 27th.

Orchid Island Capital has decreased its dividend 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% 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 $0.43 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 Trading Up 0.5%

ORC opened at $7.54 on Friday. The stock has a 50-day moving average of $7.61 and a 200 day moving average of $7.34. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $9.01. The firm has a market cap of $1.38 billion, a P/E ratio of 7.25 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $109.23 million during the quarter, compared to the consensus estimate of $35.74 million. On average, research analysts forecast that Orchid Island Capital will post 0.37 earnings per share for the current fiscal 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.