Orchid Island Capital Announces August 2026 Monthly Dividend and July 31, 2026 RMBS Portfolio Characteristics
Rhea-AI Summary
Orchid Island Capital (NYSE: ORC) declared a $0.10 monthly cash dividend for August 2026, payable September 29, 2026 to shareholders of record and ex-dividend on August 31, 2026. The company expects to announce its next common stock dividend on September 14, 2026. As of August 12, 2026, Orchid Island Capital had 198,807,315 common shares outstanding.
As of July 31, 2026, Orchid Island Capital reported preliminary Agency RMBS mortgage assets with a fair value of $11.26 billion, almost entirely pass-through securities. The portfolio was 52.2% Fannie Mae and 47.8% Freddie Mac, with 95.0% classified as whole pool assets under the Investment Company Act of 1940 test. Total repurchase borrowings were $10.90 billion at a weighted average rate of 3.79% and a weighted average maturity of 23 days across multiple counterparties. The company also utilized futures, swaps, swaptions and TBA shorts with aggregate hedge notional of about $9.98 billion, with modeled parallel interest rate shocks indicating a net portfolio impact of $14.3 million for -50 bps and -$48.6 million for +50 bps.
Positive
- $0.10 monthly common dividend for August 2026, payable September 29, 2026
- $11.26 billion fair value of Agency RMBS mortgage assets as of July 31, 2026
- Agency RMBS mix of 52.2% Fannie Mae and 47.8% Freddie Mac by fair value
- Whole pool assets represent 95.0% of total mortgage assets under 1940 Act test
- Modeled -50 bps rate shock shows $14.3 million positive portfolio impact
Negative
- Total repurchase agreement borrowings of $10.90 billion at 3.79% weighted average rate
- Rate shock model shows $48.6 million negative impact for +50 bps parallel move
- Hedge instruments total notional of about $9.98 billion, indicating significant derivative exposure
AI-generated analysis. How Rhea-AI works. Not financial advice.
- August 2026 Monthly Dividend of
$0.10 Per Share of Common Stock - RMBS Portfolio Characteristics as of July 31, 2026
- Next Dividend Announcement Expected September 14, 2026
VERO BEACH, Fla., Aug. 12, 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 August 2026. 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 12, 2026, the Company had 198,807,315 shares of common stock outstanding. As of July 31, 2026 and June 30, 2026, the Company had 199,603,438 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of July 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 | May-26 - | |||||||||||||||||||||||||||||||||||||||||||||||
| Jul-26 | Jul-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 August) | in August) | (-50 BPS) | (+50 BPS) | ||||||||||||||||||||||||||||||||||||
| Fixed Rate RMBS | ||||||||||||||||||||||||||||||||||||||||||||||||
| 30yr 3.0 | $ | 312,853 | $ | 270,606 | 2.40 | % | 86.50 | 3.00 | % | 3.52 | % | 63 | 289 | 7.7 | % | 7.8 | % | $ | 8,213 | $ | (8,392 | ) | ||||||||||||||||||||||||||
| 30yr 3.5 | 37,004 | 32,967 | 0.29 | % | 89.09 | 3.50 | % | 4.30 | % | 82 | 258 | 18.7 | % | 9.8 | % | 984 | (1,004 | ) | ||||||||||||||||||||||||||||||
| 30yr 4.0 | 46,981 | 43,623 | 0.39 | % | 92.85 | 4.00 | % | 4.77 | % | 86 | 269 | 5.0 | % | 8.9 | % | 1,170 | (1,208 | ) | ||||||||||||||||||||||||||||||
| 30yr 4.5 | 433,292 | 409,559 | 3.64 | % | 94.52 | 4.50 | % | 5.45 | % | 31 | 325 | 6.3 | % | 7.1 | % | 9,704 | (10,563 | ) | ||||||||||||||||||||||||||||||
| 30yr 5.0 | 2,152,263 | 2,085,963 | 18.53 | % | 96.92 | 5.00 | % | 6.00 | % | 14 | 342 | 3.8 | % | 4.7 | % | 45,443 | (50,881 | ) | ||||||||||||||||||||||||||||||
| 30yr 5.5 | 4,003,371 | 3,992,152 | 35.46 | % | 99.72 | 5.50 | % | 6.45 | % | 14 | 342 | 6.7 | % | 6.8 | % | 73,647 | (85,471 | ) | ||||||||||||||||||||||||||||||
| 30yr 6.0 | 3,017,573 | 3,075,322 | 27.31 | % | 101.91 | 6.00 | % | 6.92 | % | 19 | 335 | 10.8 | % | 12.4 | % | 42,799 | (52,804 | ) | ||||||||||||||||||||||||||||||
| 30yr 6.5 | 1,233,441 | 1,282,240 | 11.39 | % | 103.96 | 6.50 | % | 7.39 | % | 21 | 333 | 20.5 | % | 21.2 | % | 13,265 | (17,237 | ) | ||||||||||||||||||||||||||||||
| 30yr 7.0 | 51,728 | 54,548 | 0.48 | % | 105.45 | 7.00 | % | 7.92 | % | 32 | 321 | 49.5 | % | 37.3 | % | 585 | (719 | ) | ||||||||||||||||||||||||||||||
| Total Pass-Through RMBS | 11,288,506 | 11,246,980 | 99.90 | % | 99.63 | 5.53 | % | 6.47 | % | 19 | 336 | 9.0 | % | 9.8 | % | 195,810 | (228,279 | ) | ||||||||||||||||||||||||||||||
| Total Structured RMBS | 81,391 | 11,814 | 0.10 | % | 14.52 | 3.38 | % | 4.59 | % | 140 | 203 | 10.2 | % | 8.0 | % | (36 | ) | 27 | ||||||||||||||||||||||||||||||
| Total Mortgage Assets | $ | 11,369,897 | $ | 11,258,794 | 100.00 | % | 5.52 | % | 6.45 | % | 20 | 336 | 9.0 | % | 9.8 | % | $ | 195,774 | $ | (228,252 | ) | |||||||||||||||||||||||||||
| Hedge | Modeled Interest | ||||||||||||||
| Notional | Period | Rate Sensitivity (1) | |||||||||||||
| Hedge | Balance | End | (-50 BPS) | (+50 BPS) | |||||||||||
| 3-Month SOFR Futures | $ | (390,000 | ) | Jan-27 | $ | (1,706 | ) | $ | 1,706 | ||||||
| 10-Year Treasury Future(2) | (358,600 | ) | May-33 | (11,329 | ) | 10,940 | |||||||||
| 10-Year Ultra Treasury Future(3) | (60,000 | ) | Feb-36 | (2,579 | ) | 2,464 | |||||||||
| ERIS SOFR Swap Futures | (10,000 | ) | Sep-31 | (177 | ) | 173 | |||||||||
| Swaps | (7,814,200 | ) | Feb-31 | (155,486 | ) | 150,459 | |||||||||
| Swaptions | (1,000,000 | ) | Dec-31 | (3,968 | ) | 6,385 | |||||||||
| TBA Short | (344,900 | ) | Aug-26 | (6,231 | ) | 7,480 | |||||||||
| Hedge Total | $ | (9,977,700 | ) | $ | (181,476 | ) | $ | 179,607 | |||||||
| Rate Shock Grand Total | $ | 14,298 | $ | (48,645 | ) | ||||||||||
| (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 | |
| (3) | Ten-year Ultra Treasury futures contracts were valued at prices of | |
| RMBS Assets by Agency | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of July 31, 2026 | ||||||||
| Fannie Mae | $ | 5,873,581 | 52.2 | % | ||||
| Freddie Mac | 5,385,213 | 47.8 | % | |||||
| Total Mortgage Assets | $ | 11,258,794 | 100.0 | % | ||||
| Investment Company Act of 1940 Whole Pool Test | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of July 31, 2026 | ||||||||
| Non-Whole Pool Assets | $ | 559,519 | 5.0 | % | ||||
| Whole Pool Assets | 10,699,275 | 95.0 | % | |||||
| Total Mortgage Assets | $ | 11,258,794 | 100.0 | % | ||||
| Borrowings By Counterparty | ||||||||||||||||||
| ($ in thousands) | ||||||||||||||||||
| Weighted | Weighted | |||||||||||||||||
| % of | Average | Average | ||||||||||||||||
| Total | Total | Repo | Maturity | Longest | ||||||||||||||
| As of July 31, 2026 | Borrowings | Debt | Rate | in Days | Maturity | |||||||||||||
| Wells Fargo Securities, LLC | $ | 556,368 | 5.1 | % | 3.79 | % | 8 | 8/19/2026 | ||||||||||
| StoneX Financial Inc. | 486,043 | 4.5 | % | 3.79 | % | 47 | 9/23/2026 | |||||||||||
| Hidden Road Partners Civ US LLC | 484,353 | 4.4 | % | 3.76 | % | 27 | 9/10/2026 | |||||||||||
| Citigroup Global Markets Inc | 480,218 | 4.4 | % | 3.79 | % | 16 | 9/21/2026 | |||||||||||
| Marex Capital Markets Inc. | 476,931 | 4.4 | % | 3.77 | % | 21 | 8/24/2026 | |||||||||||
| ASL Capital Markets Inc. | 472,828 | 4.3 | % | 3.77 | % | 26 | 9/21/2026 | |||||||||||
| ABN AMRO Bank N.V. | 467,180 | 4.3 | % | 3.80 | % | 24 | 8/27/2026 | |||||||||||
| South Street Securities, LLC | 458,067 | 4.2 | % | 3.82 | % | 37 | 11/13/2026 | |||||||||||
| The Bank of Nova Scotia | 448,480 | 4.1 | % | 3.78 | % | 19 | 8/21/2026 | |||||||||||
| J.P. Morgan Securities LLC | 440,027 | 4.0 | % | 3.78 | % | 3 | 8/3/2026 | |||||||||||
| DV Securities, LLC Repo | 422,084 | 3.9 | % | 3.78 | % | 23 | 8/27/2026 | |||||||||||
| RBC Capital Markets, LLC | 420,109 | 3.9 | % | 3.78 | % | 28 | 8/28/2026 | |||||||||||
| Cantor Fitzgerald & Co | 416,796 | 3.8 | % | 3.77 | % | 31 | 8/31/2026 | |||||||||||
| Daiwa Securities America Inc. | 407,688 | 3.7 | % | 3.81 | % | 36 | 9/23/2026 | |||||||||||
| Banco Santander SA | 402,148 | 3.7 | % | 3.85 | % | 74 | 10/13/2026 | |||||||||||
| Clear Street LLC | 398,804 | 3.7 | % | 3.77 | % | 17 | 8/20/2026 | |||||||||||
| Goldman, Sachs & Co | 387,203 | 3.6 | % | 3.86 | % | 27 | 8/27/2026 | |||||||||||
| ING Financial Markets LLC | 354,967 | 3.3 | % | 3.78 | % | 13 | 8/13/2026 | |||||||||||
| TD Securities (USA) LLC | 322,849 | 3.0 | % | 3.78 | % | 17 | 8/31/2026 | |||||||||||
| Bank of Montreal | 315,562 | 2.9 | % | 3.82 | % | 14 | 8/14/2026 | |||||||||||
| Mirae Asset Securities (USA) Inc. | 296,148 | 2.7 | % | 3.79 | % | 23 | 8/24/2026 | |||||||||||
| Brean Capital, LLC | 295,238 | 2.7 | % | 3.77 | % | 21 | 8/31/2026 | |||||||||||
| MUFG Securities Canada, Ltd. | 268,410 | 2.5 | % | 3.76 | % | 5 | 8/10/2026 | |||||||||||
| Morgan Stanley & Co. LLC | 257,017 | 2.4 | % | 3.79 | % | 8 | 8/10/2026 | |||||||||||
| Mitsubishi UFJ Securities (USA), Inc. | 235,060 | 2.2 | % | 3.79 | % | 21 | 8/21/2026 | |||||||||||
| Nomura Securities International, Inc. | 210,960 | 1.9 | % | 3.76 | % | 14 | 8/14/2026 | |||||||||||
| Mizuho Securities USA LLC | 179,143 | 1.6 | % | 3.80 | % | 12 | 8/12/2026 | |||||||||||
| Natixis, New York Branch | 136,113 | 1.2 | % | 3.82 | % | 17 | 8/21/2026 | |||||||||||
| BNP Paribas Securities Corp. | 134,744 | 1.2 | % | 3.78 | % | 10 | 8/10/2026 | |||||||||||
| Merrill Lynch, Pierce, Fenner & Smith | 134,563 | 1.2 | % | 3.80 | % | 31 | 8/31/2026 | |||||||||||
| Mesirow Financial, Inc. | 84,266 | 0.8 | % | 3.79 | % | 16 | 8/31/2026 | |||||||||||
| Lucid Prime Fund, LLC | 30,082 | 0.3 | % | 3.79 | % | 13 | 8/13/2026 | |||||||||||
| Canyon Partners, LLC | 23,512 | 0.2 | % | 3.74 | % | 14 | 8/14/2026 | |||||||||||
| Total Borrowings | $ | 10,903,961 | 100.0 | % | 3.79 | % | 23 | 11/13/2026 | ||||||||||
Contact: Orchid Island Capital, Inc. Robert E. Cauley 3305 Flamingo Drive, Vero Beach, Florida 32963 Telephone: (772) 231-1400