Orchid Island Capital Announces August 2025 Monthly Dividend and July 31, 2025 RMBS Portfolio Characteristics
Rhea-AI Summary
Orchid Island Capital (NYSE: ORC) has declared a monthly cash dividend of $0.12 per share for August 2025, payable on September 29, 2025, to stockholders of record as of August 29, 2025. The company, operating as a REIT, must distribute at least 90% of its taxable income annually to maintain its REIT status.
The company's outstanding shares have increased from 126,566,926 as of June 30, 2025, to 133,172,673 as of August 13, 2025, indicating recent share issuance. The next dividend announcement is expected on September 8, 2025.
Positive
- Monthly dividend of $0.12 per share maintained
- Consistent dividend payment schedule demonstrates stability
- Share count increased by 5.2% from June to August 2025, indicating successful capital raising
Negative
- No minimum distribution payment level established
- Company explicitly states no assurance of future distribution ability
- Significant share count increase suggests potential dilution for existing shareholders
News Market Reaction – ORC
In the Aug 14 session, ORC declined 0.14%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- August 2025 Monthly Dividend of
$0.12 Per Share of Common Stock - RMBS Portfolio Characteristics as of July 31, 2025
- Next Dividend Announcement Expected September 8, 2025
VERO BEACH, Fla., Aug. 13, 2025 (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 August 2025. The dividend of
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
As of August 13, 2025, the Company had 133,172,673 shares of common stock outstanding. As of July 31, 2025, the Company had 130,595,848 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of July 31, 2025 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, 2024.
| RMBS Valuation Characteristics | |||||||||||||||||||||||||||||||||
| ($ in thousands) | |||||||||||||||||||||||||||||||||
| Realized | |||||||||||||||||||||||||||||||||
| Realized | May-25 - | ||||||||||||||||||||||||||||||||
| Jul-25 | Jul-25 | ||||||||||||||||||||||||||||||||
| 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 Aug) | in Aug) | (-50 BPS) | (+50 BPS) | |||||||||||||||||||||
| Fixed Rate RMBS | |||||||||||||||||||||||||||||||||
| 30yr 3.0 | $ | 848,648 | $ | 741,107 | 10.08 | % | 87.33 | 3.00 | % | 3.48 | % | 53 | 299 | 7.8 | % | 6.9 | % | $ | 21,788 | $ | (22,024 | ) | |||||||||||
| 30yr 3.5 | 166,312 | 151,220 | 2.06 | % | 90.93 | 3.50 | % | 4.04 | % | 65 | 282 | 9.4 | % | 8.3 | % | 4,127 | (4,170 | ) | |||||||||||||||
| 30yr 4.0 | 158,877 | 148,139 | 2.02 | % | 93.24 | 4.00 | % | 4.70 | % | 51 | 304 | 9.3 | % | 6.6 | % | 3,837 | (3,986 | ) | |||||||||||||||
| 30yr 4.5 | 285,759 | 272,923 | 3.71 | % | 95.51 | 4.50 | % | 5.44 | % | 37 | 318 | 13.3 | % | 10.9 | % | 5,919 | (6,433 | ) | |||||||||||||||
| 30yr 5.0 | 418,604 | 410,003 | 5.58 | % | 97.95 | 5.00 | % | 5.92 | % | 32 | 322 | 7.6 | % | 9.9 | % | 8,643 | (9,528 | ) | |||||||||||||||
| 30yr 5.5 | 1,237,391 | 1,243,479 | 16.92 | % | 100.49 | 5.50 | % | 6.42 | % | 13 | 342 | 8.5 | % | 7.3 | % | 23,348 | (27,107 | ) | |||||||||||||||
| 30yr 6.0 | 2,457,281 | 2,513,089 | 34.19 | % | 102.27 | 6.00 | % | 6.93 | % | 11 | 344 | 9.2 | % | 8.7 | % | 31,899 | (40,450 | ) | |||||||||||||||
| 30yr 6.5 | 1,525,438 | 1,585,715 | 21.57 | % | 103.95 | 6.50 | % | 7.40 | % | 13 | 343 | 14.9 | % | 15.5 | % | 13,850 | (19,122 | ) | |||||||||||||||
| 30yr 7.0 | 256,727 | 270,437 | 3.68 | % | 105.34 | 7.00 | % | 7.94 | % | 21 | 331 | 15.6 | % | 25.6 | % | 1,890 | (2,587 | ) | |||||||||||||||
| 30yr Total | 7,355,037 | 7,336,112 | 99.80 | % | 99.74 | 5.49 | % | 6.35 | % | 21 | 333 | 10.4 | % | 10.3 | % | 115,301 | (135,407 | ) | |||||||||||||||
| Total Pass-Through RMBS | 7,355,037 | 7,336,112 | 99.80 | % | 99.74 | 5.49 | % | 6.35 | % | 21 | 333 | 10.4 | % | 10.3 | % | 115,301 | (135,407 | ) | |||||||||||||||
| Structured RMBS | |||||||||||||||||||||||||||||||||
| IO 20yr 4.0 | 6,029 | 504 | 0.01 | % | 8.37 | 4.00 | % | 4.57 | % | 162 | 72 | 11.9 | % | 12.7 | % | 2 | (2 | ) | |||||||||||||||
| IO 30yr 3.0 | 2,472 | 300 | 0.00 | % | 12.12 | 3.00 | % | 3.64 | % | 126 | 224 | 26.8 | % | 10.4 | % | - | (1 | ) | |||||||||||||||
| IO 30yr 4.0 | 67,107 | 12,622 | 0.17 | % | 18.81 | 4.00 | % | 4.59 | % | 131 | 220 | 7.0 | % | 6.7 | % | (211 | ) | 138 | |||||||||||||||
| IO 30yr 4.5 | 2,912 | 533 | 0.01 | % | 18.29 | 4.50 | % | 4.99 | % | 181 | 166 | 8.9 | % | 8.3 | % | (3 | ) | 1 | |||||||||||||||
| IO 30yr 5.0 | 1,539 | 322 | 0.00 | % | 20.92 | 5.00 | % | 5.37 | % | 181 | 166 | 15.5 | % | 8.3 | % | (4 | ) | 2 | |||||||||||||||
| IO Total | 80,059 | 14,281 | 0.19 | % | 17.84 | 4.01 | % | 4.59 | % | 136 | 206 | 8.2 | % | 7.3 | % | (216 | ) | 138 | |||||||||||||||
| IIO 30yr 4.0 | 19,647 | 185 | 0.00 | % | 0.94 | 0.00 | % | 4.40 | % | 94 | 254 | 9.5 | % | 5.7 | % | 92 | (64 | ) | |||||||||||||||
| Total Structured RMBS | 99,706 | 14,466 | 0.20 | % | 14.51 | 3.22 | % | 4.55 | % | 128 | 215 | 8.4 | % | 7.0 | % | (124 | ) | 74 | |||||||||||||||
| Total Mortgage Assets | $ | 7,454,743 | $ | 7,350,578 | 100.00 | % | 5.46 | % | 6.33 | % | 23 | 332 | 10.3 | % | 10.3 | % | $ | 115,177 | $ | (135,333 | ) | ||||||||||||
| Hedge | Modeled Interest | |||||||||||
| Notional | Period | Rate Sensitivity (1) | ||||||||||
| Hedge | Balance | End | (-50 BPS) | (+50 BPS) | ||||||||
| 3-Month SOFR Futures | $ | (115,000 | ) | Aug-26 | $ | (1,150 | ) | $ | 1,150 | |||
| 5-Year Treasury Future(2) | (562,500 | ) | Sep-25 | (11,695 | ) | 11,433 | ||||||
| 10-Year Treasury Future(3) | (228,500 | ) | Sep-25 | (7,455 | ) | 7,243 | ||||||
| 10-Year Ultra Treasury Future(4) | (197,500 | ) | Sep-25 | (8,658 | ) | 8,292 | ||||||
| 5-Year ERIS SOFR Swap Futures | (10,000 | ) | Sep-25 | (231 | ) | 224 | ||||||
| Swaps | (3,843,300 | ) | Feb-31 | (96,488 | ) | 93,225 | ||||||
| TBA Short | (340,000 | ) | Aug-25 | (2,505 | ) | 3,747 | ||||||
| Hedge Total | $ | (5,296,800 | ) | $ | (128,182 | ) | $ | 125,314 | ||||
| Rate Shock Grand Total | $ | (13,005 | ) | $ | (10,019 | ) | ||||||
| (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 |
| (3 | ) | Ten-year Treasury futures contracts were valued at prices of |
| (4 | ) | Ten-year Ultra futures contracts were valued at prices of |
| RMBS Assets by Agency | |||||||
| ($ in thousands) | |||||||
| Percentage | |||||||
| Fair | of | ||||||
| Asset Category | Value | Portfolio | |||||
| As of July 31, 2025 | |||||||
| Fannie Mae | $ | 4,419,539 | 60.1 | % | |||
| Freddie Mac | 2,931,039 | 39.9 | % | ||||
| Total Mortgage Assets | $ | 7,350,578 | 100.0 | % | |||
| Investment Company Act of 1940 Whole Pool Test | |||||||
| ($ in thousands) | |||||||
| Percentage | |||||||
| Fair | of | ||||||
| Asset Category | Value | Portfolio | |||||
| As of July 31, 2025 | |||||||
| Non-Whole Pool Assets | $ | 417,423 | 5.7 | % | |||
| Whole Pool Assets | 6,933,155 | 94.3 | % | ||||
| Total Mortgage Assets | $ | 7,350,578 | 100.0 | % | |||
| Borrowings By Counterparty | ||||||||||||||||
| ($ in thousands) | ||||||||||||||||
| Weighted | Weighted | |||||||||||||||
| % of | Average | Average | ||||||||||||||
| Total | Total | Repo | Maturity | Longest | ||||||||||||
| As of July 31, 2025 | Borrowings | Debt | Rate | in Days | Maturity | |||||||||||
| J.P. Morgan Securities LLC | $ | 343,768 | 5.0 | % | 4.51 | % | 59 | 10/23/2025 | ||||||||
| Mirae Asset Securities (USA) Inc. | 334,110 | 4.9 | % | 4.42 | % | 79 | 11/13/2025 | |||||||||
| ASL Capital Markets Inc. | 326,866 | 4.8 | % | 4.48 | % | 44 | 9/18/2025 | |||||||||
| ABN AMRO Bank N.V. | 324,146 | 4.8 | % | 4.47 | % | 51 | 9/22/2025 | |||||||||
| Marex Capital Markets Inc. | 307,526 | 4.5 | % | 4.47 | % | 28 | 9/25/2025 | |||||||||
| Citigroup Global Markets Inc | 303,177 | 4.5 | % | 4.49 | % | 87 | 10/30/2025 | |||||||||
| Wells Fargo Bank, N.A. | 301,894 | 4.4 | % | 4.49 | % | 14 | 8/14/2025 | |||||||||
| Goldman, Sachs & Co | 301,322 | 4.4 | % | 4.48 | % | 28 | 8/29/2025 | |||||||||
| RBC Capital Markets, LLC | 300,339 | 4.4 | % | 4.52 | % | 20 | 8/27/2025 | |||||||||
| DV Securities, LLC Repo | 293,657 | 4.3 | % | 4.48 | % | 71 | 10/28/2025 | |||||||||
| ING Financial Markets LLC | 292,441 | 4.3 | % | 4.49 | % | 48 | 9/17/2025 | |||||||||
| Daiwa Securities America Inc. | 291,352 | 4.3 | % | 4.50 | % | 47 | 9/23/2025 | |||||||||
| Bank of Montreal | 288,463 | 4.2 | % | 4.50 | % | 35 | 10/28/2025 | |||||||||
| South Street Securities, LLC | 280,229 | 4.1 | % | 4.47 | % | 58 | 10/14/2025 | |||||||||
| StoneX Financial Inc. | 280,050 | 4.1 | % | 4.49 | % | 49 | 9/18/2025 | |||||||||
| Clear Street LLC | 278,404 | 4.1 | % | 4.48 | % | 44 | 9/22/2025 | |||||||||
| Cantor Fitzgerald & Co | 277,431 | 4.1 | % | 4.50 | % | 27 | 8/27/2025 | |||||||||
| Merrill Lynch, Pierce, Fenner & Smith | 260,388 | 3.8 | % | 4.51 | % | 22 | 8/25/2025 | |||||||||
| MUFG Securities Canada, Ltd. | 254,861 | 3.7 | % | 4.47 | % | 8 | 8/8/2025 | |||||||||
| Mitsubishi UFJ Securities (USA), Inc. | 247,115 | 3.6 | % | 4.49 | % | 61 | 10/14/2025 | |||||||||
| The Bank of Nova Scotia | 243,502 | 3.6 | % | 4.49 | % | 54 | 10/23/2025 | |||||||||
| Banco Santander SA | 187,018 | 2.7 | % | 4.50 | % | 47 | 9/16/2025 | |||||||||
| Nomura Securities International, Inc. | 142,942 | 2.1 | % | 4.47 | % | 25 | 9/8/2025 | |||||||||
| Mizuho Securities USA LLC | 136,238 | 2.0 | % | 4.52 | % | 28 | 8/28/2025 | |||||||||
| Natixis, New York Branch | 104,700 | 1.5 | % | 4.49 | % | 28 | 8/29/2025 | |||||||||
| Wells Fargo Securities, LLC | 73,823 | 1.1 | % | 4.48 | % | 89 | 10/28/2025 | |||||||||
| Lucid Prime Fund, LLC | 34,862 | 0.5 | % | 4.50 | % | 14 | 8/14/2025 | |||||||||
| Total Borrowings | $ | 6,810,624 | 100.0 | % | 4.49 | % | 44 | 11/13/2025 | ||||||||
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
