-- May 2026 Monthly Dividend of $0.10 Per Share of Common Stock -- RMBS Portfolio Characteristics as of April 30, 2026 -- Next Dividend Announcement Expected June 9, 2026
VERO BEACH, Fla., May 13, 2026 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of May 2026. The dividend of $0.10 per share will be paid June 29, 2026 to holders of record of the Company's common stock on May 29, 2026, with an ex-dividend date of May 29, 2026. The Company plans on announcing its next common stock dividend on June 9, 2026.
The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust ("REIT"), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.
As of May 13, 2026 and April 30, 2026, the Company had 200,700,226 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of April 30, 2026 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate:
-- RMBS Valuation Characteristics -- RMBS Assets by Agency -- Investment Company Act of 1940 (Whole Pool) Test Results -- Repurchase Agreement Exposure by Counterparty -- RMBS Risk Measures
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company's distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.'s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
RMBS Valuation Characteristics
($ in thousands)
Realized
Realized Feb-26 -
Apr-26 Apr-26
Net Weighted CPR CPR
Weighted Average (1-Month) (3-Month) Modeled Interest
Current Fair % of Current Average Maturity (Reported (Reported Rate Sensitivity (1)
Type Face Value Portfolio Price Coupon GWAC Age (Months) in May) in May) (-50 BPS) (+50 BPS)
Fixed Rate RMBS
---------------------------
15yr 4.5 TBA $ 250,000 $ 248,076 2.14% 99.23 4.50% 5.41% 8 170 n/a n/a $ 3,518 $ (4,113)
15yr Total 250,000 248,076 2.14% 99.23 4.50% 5.41% 8 170 n/a n/a 3,518 (4,113)
30yr 3.0 320,298 285,121 2.46% 89.02 3.00% 3.52% 60 293 3.9% 6.7% 8,532 (8,672)
30yr 3.5 37,630 34,449 0.30% 91.55 3.50% 4.30% 79 262 1.1% 0.8% 1,012 (1,032)
30yr 4.0 48,820 46,472 0.40% 95.19 4.00% 4.77% 83 272 12.9% 10.6% 1,187 (1,228)
30yr 4.5 442,020 428,330 3.70% 96.90 4.50% 5.46% 28 328 3.5% 7.7% 9,350 (10,333)
30yr 5.0 1,908,999 1,893,235 16.35% 99.17 5.00% 6.00% 13 344 5.2% 5.6% 35,770 (42,269)
30yr 5.5 3,519,332 3,577,448 30.90% 101.65 5.50% 6.46% 13 343 5.9% 8.6% 53,782 (67,626)
30yr 6.0 3,155,624 3,259,141 28.15% 103.28 6.00% 6.92% 16 339 18.5% 21.7% 32,555 (45,492)
30yr 6.5 1,518,506 1,590,370 13.74% 104.73 6.50% 7.39% 20 335 27.3% 26.7% 10,135 (15,677)
30yr 7.0 190,888 202,488 1.75% 106.08 7.00% 7.95% 30 321 42.9% 33.1% 1,303 (1,742)
30yr Total 11,142,117 11,317,054 97.75% 101.57 5.59% 6.53% 18 338 12.7% 14.9% 153,626 (194,071)
Total
Pass-Through
RMBS 11,392,117 11,565,130 99.89% 101.52 5.57% 6.50% 17 334 12.7% 14.9% 157,144 (198,184)
Structured RMBS
---------------------------
IO 20yr 4.0 4,902 373 0.00% 7.60 4.00% 4.56% 171 63 14.4% 11.7% 1 (1)
IO 30yr 4.0 61,029 11,063 0.10% 18.13 4.00% 4.60% 139 211 5.3% 4.6% (70) 102
IO 30yr 4.5 2,656 497 0.00% 18.70 4.50% 4.99% 189 157 11.0% 8.7% (2) -
IO 30yr 5.0 1,396 274 0.00% 19.63 5.00% 5.37% 190 157 1.8% 4.4% (2) 1
IO Total 69,983 12,207 0.11% 17.44 4.04% 4.62% 145 197 6.1% 5.2% (73) 102
IIO 30yr 4.0 14,954 97 0.00% 0.65 0.16% 4.40% 103 245 12.8% 8.6% 69 (44)
Total
Structured
RMBS 84,937 12,304 0.11% 14.49 3.36% 4.58% 137 206 7.3% 5.8% (4) 58
Total Mortgage
Assets $11,477,054 $11,577,434 100.00% 5.55% 6.49% 18 333 12.7% 14.8% $ 157,140 $(198,126)
Hedge Modeled Interest
Notional Period Rate Sensitivity (1)
Hedge Balance End (-50 BPS) (+50 BPS)
------------- ------------ ------ ------------- ---------
3-Month SOFR
Futures $ (390,000) Dec-26 $ (2,113) $ 2,113
5-Year
Treasury
Future(2) (180,000) Aug-30 (3,747) 3,662
10-Year
Treasury
Future(3) (123,600) Jan-33 (3,967) 3,909
10-Year Ultra
Treasury
Future(4) (60,000) Nov-35 (2,669) 2,556
ERIS SOFR Swap
Futures (10,000) Jun-31 (195) 190
Swaps (7,014,200) Nov-30 (143,920) 139,285
TBA Short (155,000) May-26 (688) 1,310
-------------- ----------- ------ --------- --------
Hedge Total $(7,932,800) $ (157,299) $ 153,025
============== =========== ====== ========= ========
Rate Shock
Grand Total $ (159) $(45,101)
============== =========== ====== ========= ========
(1) Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially.
(2) Five-year Treasury futures contracts were valued at prices of $107.84 at April 30, 2026. The market value of the short position was $194.1 million.
(3) Ten-year Treasury futures contracts were valued at prices of $110.59 at April 30, 2026. The market value of the short position was $136.7 million.
(4) Ten-year Ultra Treasury futures contracts were valued at prices of $112.86 at April 30, 2026. The market value of the short position was $67.7 million.
RMBS Assets by Agency
($ in thousands)
---------------------- ---------- ----------
Percentage
Fair of
Asset Category Value Portfolio
---------------------- ----------- ----------
As of April 30, 2026
Fannie Mae $ 5,910,702 52.2%
Freddie Mac 5,418,656 47.8%
----------------------- ---------- ----------
Total Mortgage Assets $11,329,358 100.0%
======================= ========== ==========
Investment Company Act of 1940 Whole Pool Test
($ in thousands)
Percentage
Fair of
Asset Category Value Portfolio
--------------------------- ------------- ----------
As of April 30, 2026
Non-Whole Pool Assets $ 590,190 5.2%
Whole Pool Assets 10,739,167 94.8%
---------------------------- ------------ ----------
Total Mortgage Assets $ 11,329,357 100.0%
============================ ============ ==========
Borrowings By
Counterparty
($ in thousands)
----------------- ---------- ------ -------- -------- ----------
Weighted Weighted
% of Average Average
Total Total Repo Maturity Longest
As of April 30,
2026 Borrowings Debt Rate in Days Maturity
----------------- ----------- ------ -------- -------- ----------
Wells Fargo
Securities, LLC $ 540,272 4.9% 3.79% 9 5/21/2026
Hidden Road
Partners Civ US
LLC 500,781 4.6% 3.78% 27 5/28/2026
Marex Capital
Markets Inc. 498,421 4.6% 3.78% 80 7/23/2026
ABN AMRO Bank N.V. 497,665 4.6% 3.77% 22 5/26/2026
Citigroup Global
Markets Inc 494,590 4.5% 3.78% 13 5/26/2026
StoneX Financial
Inc. 488,036 4.5% 3.79% 125 9/23/2026
ASL Capital
Markets Inc. 481,407 4.4% 3.79% 61 9/21/2026
South Street
Securities, LLC 477,914 4.4% 3.83% 76 11/13/2026
The Bank of Nova
Scotia 472,247 4.3% 3.78% 20 5/22/2026
J.P. Morgan
Securities LLC 461,915 4.2% 3.78% 26 5/26/2026
RBC Capital
Markets, LLC 451,723 4.1% 3.83% 73 7/27/2026
DV Securities, LLC
Repo 450,381 4.1% 3.78% 43 8/21/2026
Cantor Fitzgerald
& Co 440,165 4.0% 3.77% 22 5/28/2026
Clear Street LLC 437,924 4.0% 3.79% 39 6/22/2026
Daiwa Securities
America Inc. 432,054 4.0% 3.79% 36 6/23/2026
Banco Santander SA 426,957 3.9% 3.79% 14 5/19/2026
Bank of Montreal 416,360 3.8% 3.79% 13 5/13/2026
Goldman, Sachs &
Co 406,319 3.7% 3.78% 27 5/27/2026
Merrill Lynch,
Pierce, Fenner &
Smith 379,970 3.5% 3.79% 18 5/26/2026
ING Financial
Markets LLC 370,344 3.4% 3.80% 74 7/13/2026
Mirae Asset
Securities $(USA)$
Inc. 328,612 3.0% 3.79% 29 6/17/2026
Brean Capital, LLC 283,485 2.6% 3.79% 19 5/26/2026
Mitsubishi UFJ
Securities (USA),
Inc. 244,377 2.2% 3.79% 22 5/22/2026
MUFG Securities
Canada, Ltd. 227,431 2.1% 3.78% 4 5/4/2026
Nomura Securities
International,
Inc. 222,189 2.0% 3.79% 41 6/15/2026
Mizuho Securities
USA LLC 194,681 1.8% 3.79% 21 5/22/2026
TD Securities
(USA) LLC 172,885 1.6% 3.80% 43 6/12/2026
Natixis, New York
Branch 96,572 0.9% 3.78% 27 5/27/2026
Lucid Prime Fund,
LLC 31,400 0.3% 3.78% 14 5/14/2026
------------------ ---------- ------ -------- -------- ----------
Total Borrowings $10,927,077 100.0% 3.79% 38 11/13/2026
================== ========== ====== ======== ======== ==========
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
(END) Dow Jones Newswires
May 13, 2026 16:45 ET (20:45 GMT)
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