-- November 2026 Monthly Dividend of $0.10 Per Share of Common Stock
-- RMBS Portfolio Characteristics as of October 31, 2026
-- Estimated book value per common share of $6.52 to $6.54 as of November 6,
2026
-- Next Dividend Announcement Expected December 8, 2026
VERO BEACH, Fla., Nov. 10, 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 November 2026. The dividend of $0.10 per share will be paid December 31, 2026 to holders of record of the Company's common stock on November 30, 2026, with an ex-dividend date of November 30, 2026. The Company plans on announcing its next common stock dividend on December 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 November 10, 2026, the Company had 188,601,860 shares of common stock outstanding. As of October 31, 2026, the Company had 192,992,160 shares of common stock outstanding. As of September 30, 2026, the Company had 194,661,864 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of October 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
Estimated November 6, 2026 Book Value Per Share
The Company estimates book value per share as of November 6, 2026 to be approximately $6.52 to $6.54 per share, an increase of approximately 8% to 9% from the book value at September 30, 2026 of $6.02 per share. The estimated book value per share includes a deduction for the Company's October 2026 dividend that will be paid on November 27, 2026, which was declared on October 14, 2026 with an October 30, 2026 record date. The estimated book value per share is unaudited and has not been verified or reviewed by any third party. The Company is providing this update to its estimated book value per share given recent market conditions and resulting book value volatility. The Company undertakes no obligation to update its estimated book value per share.
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company's distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.'s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
RMBS Valuation Characteristics
($ in thousands)
----------------- ---------- ---------- --------- ------- -------- ----- --- -------- --------- --------- ------- ---------
Realized
Realized Aug-26 -
Oct-26 Oct-26
Net Weighted CPR CPR
Weighted Average (1-Month) (3-Month) Modeled Interest
Current Fair % of Current Average Maturity (Reported (Reported Rate Sensitivity (1)
in in
Type Face Value Portfolio Price Coupon GWAC Age (Months) November) November) (-50 BPS) (+50 BPS)
----------------- ----------- ----------- --------- ------- -------- ----- --- -------- --------- --------- ----------- ----------
Fixed Rate RMBS
-----------------
30yr 3.0 $ 305,314 $ 260,785 2.45% 85.42 3.00% 3.52% 66 286 6.5% 6.4% $ 7,912 $ (8,023)
30yr 3.5 35,527 31,140 0.29% 87.65 3.50% 4.30% 85 255 6.8% 8.6% 923 (935)
30yr 4.0 45,959 42,064 0.40% 91.52 4.00% 4.77% 89 266 1.6% 4.7% 1,119 (1,150)
30yr 4.5 424,423 395,862 3.73% 93.27 4.50% 5.46% 34 321 5.1% 5.9% 9,365 (10,087)
30yr 5.0 1,751,837 1,673,232 15.75% 95.51 5.00% 6.00% 19 336 4.4% 4.8% 37,027 (40,588)
30yr 5.5 3,927,211 3,857,033 36.29% 98.21 5.50% 6.45% 17 338 5.8% 5.8% 74,486 (83,770)
30yr 6.0 3,096,377 3,111,136 29.28% 100.48 6.00% 6.92% 21 333 8.9% 10.0% 48,300 (56,597)
30yr 6.5 1,168,103 1,195,018 11.25% 102.30 6.50% 7.39% 24 330 14.0% 16.2% 15,278 (18,457)
30yr 7.0 47,531 49,422 0.47% 103.98 7.00% 7.91% 35 317 25.7% 14.4% 634 (748)
------------------ ---------- ---------- --------- ------- -------- ----- --- -------- --------- --------- ------- ---------
Total Pass-Through
RMBS 10,802,282 10,615,692 99.89% 98.27 5.55% 6.48% 22 333 7.4% 8.0% 195,044 (220,355)
Total Structured
RMBS 77,598 11,323 0.11% 14.59 3.40% 4.59% 144 200 6.8% 6.4% (54) 31
------------------ ---------- ---------- --------- ------- -------- ----- --- -------- --------- --------- ------- ---------
Total Mortgage
Assets $10,879,880 $10,627,015 100.00% 5.54% 6.47% 23 332 7.4% 8.0% $ 194,990 $(220,324)
================== ========== ========== ========= ======= ======== ===== === ======== ========= ========= ======= =========
Hedge Modeled Interest
Notional Period Rate Sensitivity (1)
Hedge Balance End (-50 BPS) (+50 BPS)
------------- ------------ ------ ------------- ---------
3-Month SOFR
Futures $ (390,000) Mar-27 $ (1,121) $ 1,121
10-Year
Treasury
Future(2) (1,281,000) Aug-33 (39,481) 38,380
10-Year Ultra
Treasury
Future(3) (560,000) May-36 (23,405) 22,383
ERIS SOFR Swap
Futures (10,000) Dec-31 (164) 160
Swaps (6,264,200) Mar-32 (144,078) 139,095
Hedge Total $(8,505,200) $ (208,249) $ 201,139
-------------- ----------- ------ --------- --------
Rate Shock
Grand Total $ (13,259) $(19,185)
============== =========== ====== ========= ========
(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 $106.64 at October 31, 2026. The market value of the short position was $1,366.1 million.
(3) Ten-year Ultra Treasury futures contracts were valued at prices of $108.13 at October 31, 2026. The market value of the short position was $605.5 million.
RMBS Assets by Agency
($ in thousands)
----------------------- ---------- ----------
Percentage
Fair of
Asset Category Value Portfolio
----------------------- ----------- ----------
As of October 31, 2026
Fannie Mae $ 5,453,589 51.3%
Freddie Mac 5,173,426 48.7%
------------------------ ---------- ----------
Total Mortgage Assets $10,627,015 100.0%
======================== ========== ==========
Investment Company Act of 1940 Whole Pool Test
($ in thousands)
Percentage
Fair of
Asset Category Value Portfolio
--------------------------- --------------- ----------
As of October 31, 2026
Non-Whole Pool Assets $ 522,891 4.9%
Whole Pool Assets 10,104,124 95.1%
---------------------------- ----------- ----------
Total Mortgage Assets $ 10,627,015 100.0%
============================ =========== ==========
Borrowings By
Counterparty
($ in thousands)
----------------- --------- ------ -------- -------- ----------
Weighted Weighted
% of Average Average
Total Total Repo Maturity Longest
As of October 31,
2026 Borrowings Debt Rate in Days Maturity
----------------- ---------- ------ -------- -------- ----------
Hidden Road
Partners Civ US
LLC $ 455,496 4.6% 4.03% 16 11/16/2026
Citigroup Global
Markets Inc 454,270 4.6% 4.04% 25 11/30/2026
J.P. Morgan
Securities LLC 443,493 4.5% 4.08% 19 11/23/2026
Marex Capital
Markets Inc. 440,600 4.4% 4.04% 30 11/30/2026
ABN AMRO Bank N.V. 438,730 4.4% 4.06% 19 11/19/2026
ASL Capital
Markets Inc. 435,272 4.4% 4.03% 21 11/23/2026
StoneX Financial
Inc. 435,106 4.4% 4.05% 23 11/23/2026
South Street
Securities, LLC 424,771 4.3% 4.12% 161 9/3/2027
The Bank of Nova
Scotia 419,199 4.2% 4.03% 28 11/30/2026
Cantor Fitzgerald
& Co 393,968 4.0% 4.07% 15 11/16/2026
DV Securities, LLC
Repo 384,727 3.9% 4.04% 10 11/16/2026
Clear Street LLC 381,364 3.8% 4.06% 19 11/19/2026
Daiwa Securities
America Inc. 373,490 3.8% 4.05% 21 11/23/2026
Wells Fargo
Securities, LLC 367,948 3.7% 4.05% 27 11/27/2026
Goldman, Sachs &
Co 367,506 3.7% 4.05% 16 11/16/2026
Brean Capital, LLC 339,436 3.4% 4.07% 20 11/25/2026
ING Financial
Markets LLC 334,991 3.4% 4.05% 40 12/10/2026
RBC Capital
Markets, LLC 325,273 3.3% 4.08% 10 11/25/2026
TD Securities
(USA) LLC 310,428 3.1% 4.04% 30 11/30/2026
Morgan Stanley &
Co. LLC 290,123 2.9% 4.03% 37 12/10/2026
Mirae Asset
Securities (USA)
Inc. 273,297 2.8% 4.04% 23 11/23/2026
Merrill Lynch,
Pierce, Fenner &
Smith 246,985 2.5% 4.06% 25 11/27/2026
Mitsubishi UFJ
Securities (USA),
Inc. 223,007 2.3% 4.06% 17 11/18/2026
Mesirow Financial,
Inc. 218,275 2.2% 4.04% 40 12/10/2026
MUFG Securities
Canada, Ltd. 197,292 2.0% 4.05% 13 11/13/2026
Nomura Securities
International,
Inc. 196,684 2.0% 4.04% 13 11/13/2026
Natixis, New York
Branch 174,515 1.8% 4.03% 30 11/30/2026
Bank of Montreal 169,366 1.7% 4.05% 23 11/23/2026
Mizuho Securities
USA LLC 169,083 1.7% 4.04% 20 11/20/2026
BNP Paribas
Securities Corp. 150,098 1.5% 4.05% 25 11/25/2026
Lucid Prime Fund,
LLC 28,451 0.3% 4.04% 12 11/12/2026
Banco Santander SA 23,012 0.2% 4.12% 13 11/13/2026
Canyon Partners,
LLC 21,702 0.2% 3.98% 13 11/13/2026
------------------ --------- ------ -------- -------- ----------
Total Borrowings $9,907,958 100.0% 4.05% 28 9/3/2027
================== ========= ====== ======== ======== ==========
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
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