Orchid Island Capital Announces November 2026 Monthly Dividend and October 31, 2026 RMBS Portfolio Characteristics

Estimated book value rose approximately 8% to 9% from September 30, while modeled rate shocks showed losses after hedges.

Rhea-AI Summary

Orchid Island Capital (NYSE: ORC) declared a November monthly cash dividend of $0.10 per common share, payable December 31, 2026. The record and ex-dividend dates are November 30, 2026.

The company estimates November 6 book value at approximately $6.52 to $6.54 per share, up approximately 8% to 9% from $6.02 on September 30. This unaudited estimate includes the October dividend deduction and has not been independently verified or reviewed.

Preliminary October 31 mortgage-backed securities had fair value of $10,627,015 thousand, split between Fannie Mae (51.3%) and Freddie Mac (48.7%). Borrowings totaled $9,907,958 thousand at a weighted average rate of 4.05%, with weighted average maturity of 28 days. Including hedges, modeled parallel interest-rate shifts of minus and plus 50 basis points produced losses of $13,259 thousand and $19,185 thousand, respectively.

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Positive

• Moderate pointEstimated November 6 book value of approximately $6.52 to $6.54 per share increased approximately 8% to 9% from September 30.

Negative

• Minor pointOctober 31 borrowings totaled $9,907,958 thousand, at a weighted average rate of 4.05% and maturity of 28 days.
• Minor point. Forward-looking: it has not happened yet and may not happen.Modeled rate shifts of minus/plus 50 basis points produced respective losses of $13,259/$19,185 thousand, including hedges.
• Minor pointNovember 6 book value is unaudited and has not been verified or reviewed by any third party.
• Minor pointOctober 31 portfolio figures are preliminary and subject to change.

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• 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)
Type		Face				Value				Portfolio				Price				Coupon				GWAC				Age				(Months)				in November)				in 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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Orchid Island Capital pay its November 2026 dividend?

Orchid Island Capital will pay $0.10 per common share on December 31, 2026, to shareholders of record on November 30, 2026. The ex-dividend date is also November 30, 2026.

What is Orchid Island Capital's estimated November 6, 2026 book value per share?

The company estimates book value at approximately $6.52 to $6.54 per share, an increase of approximately 8% to 9% from $6.02 on September 30, 2026. The estimate includes a deduction for the October dividend and is unaudited, with no third-party verification or review.

When does Orchid Island Capital expect to announce its next common stock dividend?

Orchid Island Capital plans to announce its next common stock dividend on December 8, 2026.