-- June 2026 Monthly Dividend of $0.10 Per Share of Common Stock -- RMBS Portfolio Characteristics as of May 31, 2026 -- Next Dividend Announcement Expected July 8, 2026
VERO BEACH, Fla., June 09, 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 June 2026. The dividend of $0.10 per share will be paid July 30, 2026 to holders of record of the Company's common stock on June 30, 2026, with an ex-dividend date of June 30, 2026. The Company plans on announcing its next common stock dividend on July 8, 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 June 9, 2026 and May 31, 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 May 31, 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 Mar-26 -
May-26 May-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 Jun) in Jun) (-50 BPS) (+50 BPS)
----------------- ----------- ----------- --------- ------- -------- ---- --- -------- --------- --------- ----------- ---------
Fixed Rate RMBS
-----------------
30yr 3.0 $ 318,536 $ 282,755 2.52% 88.77 3.00% 3.52% 61 292 7.4% 6.9% $ 8,512 $ (8,623)
30yr 3.5 37,510 34,253 0.31% 91.32 3.50% 4.30% 80 261 7.4% 3.4% 1,013 (1,030)
30yr 4.0 48,111 45,664 0.41% 94.91 4.00% 4.77% 84 271 11.0% 10.4% 1,192 (1,230)
30yr 4.5 440,113 425,236 3.79% 96.62 4.50% 5.46% 29 327 7.0% 5.9% 9,449 (10,375)
30yr 5.0 2,176,760 2,152,687 19.20% 98.89 5.00% 6.00% 12 345 5.4% 5.3% 42,179 (49,229)
30yr 5.5 3,607,056 3,657,606 32.62% 101.40 5.50% 6.46% 14 342 6.7% 7.8% 57,224 (71,121)
30yr 6.0 3,096,813 3,194,305 28.49% 103.15 6.00% 6.92% 17 338 14.8% 20.4% 33,662 (46,561)
30yr 6.5 1,286,355 1,349,093 12.03% 104.88 6.50% 7.39% 19 336 19.6% 25.1% 9,260 (14,210)
30yr 7.0 54,824 58,190 0.52% 106.14 7.00% 7.92% 30 322 32.1% 45.5% 470 (629)
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
30yr Total 11,066,078 11,199,789 99.89% 101.21 5.54% 6.48% 18 338 10.4% 13.2% 162,961 (203,008)
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Pass-Through
RMBS 11,066,078 11,199,789 99.89% 101.21 5.54% 6.48% 18 338 10.4% 13.2% 162,961 (203,008)
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Structured RMBS
-----------------
IO 20yr 4.0 4,774 361 0.00% 7.56 4.00% 4.56% 172 63 14.5% 14.3% 1 (1)
IO 30yr 4.0 60,486 10,896 0.10% 18.01 4.00% 4.60% 140 210 5.7% 5.0% (128) 72
IO 30yr 4.5 2,619 486 0.00% 18.57 4.50% 4.99% 190 156 11.8% 10.1% (1) -
IO 30yr 5.0 1,388 271 0.00% 19.50 5.00% 5.37% 191 156 1.6% 4.7% (2) -
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
IO Total 69,267 12,014 0.11% 17.34 4.04% 4.62% 146 197 6.4% 5.9% (130) 71
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
IIO 30yr 4.0 14,292 71 0.00% 0.50 0.16% 4.40% 104 244 0.6% 4.9% 58 (35)
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Structured
RMBS 83,559 12,085 0.11% 14.46 3.37% 4.59% 138 205 5.4% 5.7% (72) 36
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- --------- --------- ------- --------
Total Mortgage
Assets $11,149,637 $11,211,874 100.00% 5.52% 6.46% 18 337 10.4% 13.1% $ 162,889 $(202,972)
================== ========== ========== ========= ======= ======== ==== === ======== ========= ========= ======= ========
Hedge Modeled Interest
Notional Period Rate Sensitivity (1)
Hedge Balance End (-50 BPS) (+50 BPS)
----------- ----------- ------ ------------- -----------
3-Month SOFR
Futures $ (390,000) Dec-26 $ (2,048) $ 2,048
10-Year
Treasury
Future(2) (188,600) May-33 (6,037) 5,860
10-Year
Ultra
Treasury
Future(3) (60,000) Feb-36 (2,638) 2,526
ERIS SOFR
Swap
Futures (10,000) Jun-31 (195) 190
Swaps (7,814,200) Feb-31 (164,240) 158,827
Swaptions (1,000,000) Dec-31 (2,809) 4,875
TBA Short (300,000) Jun-26 (3,351) 4,667
------------ ---------- ------ --------- -------
Hedge Total $(9,762,800) $ (181,318) $ 178,993
============ ========== ====== ========= =======
Rate Shock
Grand
Total $ (18,429) $ (23,979)
============ ========== ====== ========= =======
(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) Ten-year Treasury futures contracts were valued
at prices of $109.83 at May 31, 2026. The market value
of the short position was $207.1 million.
(3) Ten-year Ultra Treasury futures contracts were
valued at prices of $112.08 at May 31, 2026. The market
value of the short position was $67.3 million.
RMBS Assets by Agency
($ in thousands)
---------------------- ---------- ----------
Percentage
Fair of
Asset Category Value Portfolio
---------------------- ----------- ----------
As of May 31, 2026
Fannie Mae $ 5,895,030 52.6%
Freddie Mac 5,316,844 47.4%
----------------------- ---------- ----------
Total Mortgage Assets $11,211,874 100.0%
======================= ========== ==========
Investment Company Act of 1940 Whole Pool Test
($ in thousands)
Percentage
Fair of
Asset Category Value Portfolio
---------------------------- ------------- ----------
As of May 31, 2026
Non-Whole Pool Assets $ 581,118 5.2%
Whole Pool Assets 10,630,756 94.8%
----------------------------- ------------ ----------
Total Mortgage Assets $ 11,211,874 100.0%
============================= ============ ==========
Borrowings By
Counterparty
($ in thousands)
----------------- ---------- ----- -------- -------- ----------
Weighted Weighted
% of Average Average
Total Total Repo Maturity Longest
As of May 31,
2026 Borrowings Debt Rate in Days Maturity
----------------- ----------- ----- -------- -------- ----------
Marex Capital
Markets Inc. $ 498,421 4.7% 3.78% 49 7/23/2026
Citigroup Global
Markets Inc 486,749 4.5% 3.76% 23 7/27/2026
StoneX Financial
Inc. 486,529 4.5% 3.79% 103 9/23/2026
ABN AMRO Bank N.V. 478,711 4.5% 3.74% 38 7/20/2026
Wells Fargo
Securities, LLC 475,199 4.4% 3.78% 40 8/19/2026
ASL Capital
Markets Inc. 472,828 4.4% 3.77% 87 9/21/2026
South Street
Securities, LLC 466,233 4.4% 3.82% 78 11/13/2026
The Bank of Nova
Scotia 460,634 4.3% 3.75% 57 8/13/2026
J.P. Morgan
Securities LLC 453,205 4.2% 3.73% 26 6/26/2026
RBC Capital
Markets, LLC 449,008 4.2% 3.82% 47 7/27/2026
Hidden Road
Partners Civ US
LLC 444,505 4.2% 3.76% 87 8/26/2026
Clear Street LLC 431,670 4.0% 3.78% 27 7/13/2026
Cantor Fitzgerald
& Co 430,958 4.0% 3.75% 25 6/25/2026
DV Securities, LLC
Repo 423,823 4.0% 3.77% 77 8/27/2026
Daiwa Securities
America Inc. 422,808 3.9% 3.79% 50 8/18/2026
Banco Santander SA 413,756 3.9% 3.77% 44 7/20/2026
Goldman, Sachs &
Co 399,848 3.7% 3.76% 57 7/27/2026
Bank of Montreal 380,100 3.5% 3.77% 15 6/15/2026
Merrill Lynch,
Pierce, Fenner &
Smith 370,892 3.5% 3.75% 18 6/26/2026
ING Financial
Markets LLC 370,344 3.5% 3.80% 43 7/13/2026
Mirae Asset
Securities $(USA)$
Inc. 322,701 3.0% 3.73% 21 6/22/2026
Brean Capital, LLC 300,096 2.8% 3.74% 23 7/27/2026
Mitsubishi UFJ
Securities (USA),
Inc. 240,338 2.2% 3.71% 22 6/22/2026
MUFG Securities
Canada, Ltd. 223,362 2.1% 3.78% 4 6/4/2026
Nomura Securities
International,
Inc. 221,512 2.1% 3.79% 18 7/10/2026
Mizuho Securities
USA LLC 186,103 1.7% 3.73% 18 6/18/2026
TD Securities
(USA) LLC 172,185 1.6% 3.80% 12 6/12/2026
Natixis, New York
Branch 94,018 0.9% 3.73% 26 6/26/2026
Morgan Stanley &
Co. LLC 48,571 0.5% 3.77% 45 7/15/2026
BNP Paribas
Securities Corp. 36,970 0.3% 3.76% 12 6/12/2026
Lucid Prime Fund,
LLC 30,867 0.3% 3.77% 11 6/11/2026
Canyon Partners,
LLC 14,394 0.1% 3.72% 17 6/17/2026
------------------ ---------- ----- -------- -------- ----------
Total Borrowings $10,707,338 100.0% 3.77% 45 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
June 09, 2026 16:15 ET (20:15 GMT)
Comments