Welcome to our dedicated page for Orchid Is Cap news (Ticker: ORC), a resource for investors and traders seeking the latest updates and insights on Orchid Is Cap stock.
Orchid Island Capital, Inc. reports news as a mortgage REIT and specialty finance company investing on a leveraged basis in Agency residential mortgage-backed securities. Its portfolio includes traditional pass-through Agency RMBS and structured Agency RMBS, including collateralized mortgage obligations and other structured securities issued or guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
Recurring updates cover monthly common-stock dividends, REIT distribution considerations, RMBS portfolio characteristics, book value estimates, quarterly operating results, net interest income, derivative gains or losses, interest rate swaps, liquidity, repurchase agreement funding and lender capacity. The company is managed by Bimini Advisors, LLC, a registered investment adviser.
Orchid Island Capital declared a monthly cash dividend of $0.065 per share for August 2020, payable on September 28, 2020, to shareholders of record on August 31, 2020. The ex-dividend date is set for August 28, 2020. The company's upcoming dividend announcement is expected on September 16, 2020. As a REIT, Orchid must distribute at least 90% of its taxable income annually to avoid income tax liabilities on undistributed amounts. Currently, there are 66,402,329 shares of common stock outstanding.
Orchid Island Capital (NYSE:ORC) reported a net income of $48.8 million, or $0.74 per share, for Q2 2020, a significant increase from $3.5 million in Q2 2019. The results include $22.8 million in net interest income and $28.7 million in gains on RMBS and derivatives. The total declared dividend was $0.165 per share, with an estimated book value per share between $5.23 and $5.33 as of July 29, 2020. Despite facing challenges due to COVID-19, the company maintained liquidity of approximately $186 million and reported a total return of 15.8% for the quarter.
Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly cash dividend of $0.06 per share, payable on August 27, 2020. The dividend is part of the company's requirement as a REIT to distribute at least 90% of its taxable income. For the quarter ended June 30, 2020, the estimated net income was $0.74 per share, including $0.43 from gains on RMBS and derivatives. The estimated book value per share was $5.22. The total return on equity for this quarter was 15.8%.
Orchid Island Capital (NYSE: ORC) will release its second quarter 2020 results on July 30, 2020, after market close. The company, a real estate investment trust focusing on Agency RMBS, will hold an earnings conference call on July 31, 2020, at 10:00 AM ET. Investors can access the call by dialing in or via a live audio webcast on the company’s website. Orchid's portfolio primarily consists of traditional and structured Agency RMBS, and it's managed by Bimini Advisors, LLC.
Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly cash dividend of $0.055 per share for June 2020. This dividend will be paid on July 29, 2020, to stockholders of record as of June 30, 2020, with an ex-dividend date of June 29, 2020. The Company aims to maintain regular monthly cash distributions, aligning with REIT requirements to distribute at least 90% of taxable income annually. As of June 12, 2020, the estimated book value per share ranged from $5.30 to $5.40.
Orchid Island Capital, Inc. (NYSE:ORC) has announced a monthly cash dividend of $0.055 per share for May 2020, payable on June 26, 2020. The record date is May 29, 2020, with an ex-dividend date of May 28, 2020. To maintain its status as a real estate investment trust (REIT), the company must distribute at least 90% of its REIT taxable income annually. As of May 12, 2020, the estimated book value per share ranges from $5.24 to $5.34, with total stockholders' equity between $346.8 million to $353.4 million.
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