Orchid Is Cap Inc Stock Price, News & Analysis

Orchid Island Capital, Inc. (NYSE: ORC) announced a monthly cash dividend of $0.065 per share for December 2021, payable on January 27, 2022, to shareholders of record by December 31, 2021. The ex-dividend date is December 30, 2021. Additionally, the company has increased its stock repurchase program by 16,861,994 shares, now totaling 17,699,305 shares available for buyback, representing 10% of its outstanding shares. This program aims to enhance shareholder value while complying with REIT distribution requirements.

On November 16, 2021, Orchid Island Capital (NYSE: ORC) and Bimini Capital (OTCQB: BMNM) announced a Third Amendment to their Management Agreement, allowing for internalization of funding and custody operations. Bimini will terminate its arrangements with AVM, taking over repurchase agreement trading and administrative services. As part of this transition, Bimini hired Patrick Doyle, effective December 1, 2021, to lead these services. This move aims to enhance operational efficiency and liquidity management for both Orchid and Bimini.

Orchid Island Capital (NYSE: ORC) and Bimini Capital announced a Third Amendment to their management agreement, effective November 16, 2021. The amendment facilitates the internalization of funding and custody operations, transitioning from AVM to Bimini Advisors as the manager. Bimini will assume repurchase agreement services and has hired Patrick Doyle to oversee these functions. Bimini aims to enhance operational efficiency and liquidity management through this strategic move.

Orchid Island Capital announced a monthly cash dividend of $0.065 per common share for November 2021, payable on December 29, 2021. Holders of record will be those on November 30, 2021, with an ex-dividend date of November 29, 2021. The company intends to maintain regular monthly distributions while adhering to REIT regulations, which require distributing at least 90% of taxable income. As of November 9, 2021, there are 169,162,849 shares outstanding, reflecting an increase from previous months.

Orchid Island Capital (NYSE:ORC) reported a net income of $26.0 million for Q3 2021, equating to $0.20 per share. Key highlights include net interest income of $32.6 million and total expenses of $3.7 million. The book value per share rose by $0.06 to $4.77, with a total return of 5.4%. The company issued approximately 35.8 million shares, raising $177.2 million, while maintaining a leverage ratio of 7.5 to 1. Despite challenges from the pandemic, Orchid remains cautiously optimistic about future economic conditions impacting job growth and inflation.

Bimini Capital Management, Inc. (OTCQB:BMNM) will announce its third quarter 2021 results on November 8, 2021, after market close. An earnings conference call is scheduled for November 9, 2021, at 10:00 AM ET, with details available through their website. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, Inc. (NYSE: ORC), a real estate investment trust, through its subsidiary. Bimini's strategy focuses on earning returns from spreads between asset yields and borrowing costs.

Orchid Island Capital (NYSE:ORC) announced its third quarter 2021 earnings release scheduled for October 28, 2021, post-market close. This announcement includes an earnings conference call on October 29, 2021, at 10:00 AM ET. Investors can participate via a toll-free number or listen to a live audio webcast available on the company's investor relations website. Orchid specializes in leveraged investments in Agency RMBS, focusing on both traditional pass-throughs and structured Agency RMBS, and is managed by Bimini Advisors, LLC.

Orchid Island Capital (ORC) declared a monthly cash dividend of $0.065 per share for October 2021, payable on November 26, 2021. The estimated book value per share as of September 30, 2021, is $4.77, with a net income of $0.20 per share reported for the quarter. This includes $0.02 in realized and unrealized losses on RMBS and derivatives. The company estimates a 5.4% total return on equity for the quarter. These figures are preliminary and subject to review by the independent accounting firm.

Orchid Island Capital (NYSE: ORC) announced a monthly cash dividend of $0.065 per share for September 2021, payable on October 27, 2021. The record date is September 30, 2021, with an ex-dividend date of September 29, 2021. The company must distribute at least 90% of its REIT taxable income annually to avoid income tax issues. As of September 16, 2021, there are 138,055,140 shares of common stock outstanding, up from 129,280,140 as of August 31, 2021.