Orchid Island Capital (ORC) sets $0.10 August dividend and details $11.3B RMBS portfolio

Rhea-AI Filing Summary

Orchid Island Capital, Inc. declared a $0.10 per share cash dividend for August 2026 on its common stock, payable on September 29, 2026 to stockholders of record on August 31, 2026, with an ex-dividend date of August 31, 2026.

The company states an intention to make regular monthly cash distributions and notes that, to qualify as a REIT, it must distribute at least 90% of its REIT taxable income annually. It also clarifies that there is no minimum distribution level and future distributions are not assured.

As of August 12, 2026, Orchid Island Capital had 198,807,315 common shares outstanding. As of July 31, 2026, total mortgage assets were approximately $11.26 billion, invested entirely in Agency RMBS, with roughly 52.2% in Fannie Mae and 47.8% in Freddie Mac securities, funded primarily through repurchase borrowings across multiple counterparties.

Filing Explained

The July 31 snapshot pairs mortgage assets with repo borrowings and modeled exposure to rate changes.

Orchid Island Capital uses this Form 8-K to report a specified material event and provides a preliminary, intra-quarter snapshot of its mortgage assets, hedges, and repo borrowings as of July 31, 2026. The update therefore describes the company’s current financing and interest-rate exposure, rather than announcing a completed change in ownership or share issuance.

The snapshot reports total mortgage-asset fair value, repo borrowings, and hedge notional balance. The borrowing and hedge figures show the funding and risk-management structures attached to the reported portfolio.

The filing’s modeled rate-shock grand total is shown at a 50-basis-point decrease in rates and a 50-basis-point increase; these are sensitivities, not realized results.

The borrowing table reports a weighted-average repo maturity of 23 days, with disclosed maturities beginning on August 13, 2026 and the longest listed maturity on November 13, 2026. Those dates identify the next financing-maturity milestones in the filing.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

August 2026 dividend: $0.10 per share Shares outstanding: 198,807,315 shares Total mortgage assets: $11.26B +5 more

8 metrics

August 2026 dividend $0.10 per share Monthly cash dividend on common stock for August 2026, payable September 29, 2026

Shares outstanding 198,807,315 shares Common shares outstanding as of August 12, 2026

Total mortgage assets $11.26B Total RMBS mortgage assets at fair value as of July 31, 2026

Fannie Mae RMBS $5.87B Fannie Mae mortgage assets, 52.2% of portfolio fair value as of July 31, 2026

Freddie Mac RMBS $5.39B Freddie Mac mortgage assets, 47.8% of portfolio fair value as of July 31, 2026

Total borrowings $10.90B Total repurchase borrowings across all counterparties as of July 31, 2026

Weighted average repo rate 3.79% Weighted average interest rate on total borrowings as of July 31, 2026

Rate shock grand total $14.3M / $(48.6M) Modeled interest rate sensitivity at -50bps and +50bps, in thousands, for RMBS and hedges combined

Key Terms

Agency RMBS, real estate investment trust, CPR, Investment Company Act of 1940 Whole Pool Test, +2 more

6 terms

Agency RMBS financial

"invests on a leveraged basis in Agency RMBS"

A pool of home loans packaged into a bond whose principal and interest payments are backed or guaranteed by a government-sponsored mortgage agency. Think of it as many mortgages bundled together with an insurance-like promise that reduces the chance of borrower default; investors buy them for steady income but must watch interest-rate moves and homeowners paying off or refinancing early, which can change returns.

real estate investment trust financial

"In order to qualify as a real estate investment trust"

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

CPR financial

"Weighted Average CPR (1-Month) and CPR (3-Month)"

Cardiopulmonary resuscitation (CPR) is an emergency procedure that combines chest compressions and rescue breaths to keep blood and oxygen flowing when a person’s heart or breathing has stopped. For investors, mentions of CPR in corporate announcements typically signal product, training or regulatory activity related to life‑saving equipment and services, which can affect a company’s market prospects much like a safety recall or a new, proven product can influence revenues and reputation.

Investment Company Act of 1940 Whole Pool Test regulatory

"Investment Company Act of 1940 Whole Pool Test"

repurchase borrowings financial

"Total Borrowings ... Weighted Average Repo Rate"

rate sensitivity financial

"Modeled Interest Rate Sensitivity (-50 BPS) (+50 BPS)"

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FAQ

What dividend did Orchid Island Capital (ORC) declare for August 2026?

Orchid Island Capital declared a $0.10 per share cash dividend for August 2026. It will be paid on September 29, 2026 to common stockholders of record on August 31, 2026, with an ex-dividend date also on August 31, 2026.

When will Orchid Island Capital (ORC) pay its August 2026 dividend and what are the key dates?

The August 2026 dividend will be paid on September 29, 2026. The record date is August 31, 2026, which is also the ex-dividend date, meaning only shareholders on record that day will receive the $0.10 per share dividend.

How many Orchid Island Capital (ORC) shares are currently outstanding?

As of August 12, 2026, Orchid Island Capital had 198,807,315 shares of common stock outstanding. As context, it reported 199,603,438 shares outstanding as of both July 31, 2026 and June 30, 2026, indicating a modest change in share count.

What is the size and composition of Orchid Island Capital’s (ORC) RMBS portfolio?

As of July 31, 2026, total mortgage assets were about $11.26 billion, all in Agency RMBS. Approximately 52.2% of fair value was backed by Fannie Mae and 47.8% by Freddie Mac, reflecting a fully Agency-focused portfolio strategy.

How does Orchid Island Capital (ORC) maintain its REIT status regarding distributions?

To qualify as a REIT, Orchid Island Capital must distribute at least 90% of its REIT taxable income each year. It notes it may be taxed on undistributed income and subject to excise tax if required distribution thresholds are not met by specified dates.

What are Orchid Island Capital’s (ORC) borrowing levels and average repo rate?

As of July 31, 2026, total borrowings were $10.90 billion across multiple repo counterparties. The reported weighted average repo rate on this debt was 3.79%, with a weighted average maturity of 23 days, highlighting short-term funding characteristics.

false 0001518621 0001518621 2026-08-12 2026-08-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 12, 2026

Orchid Island Capital, Inc.

(Exact Name of Registrant as Specified in Charter)

Maryland	001-35236	27-3269228
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3305 Flamingo Drive, Vero Beach, Florida 32963

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code (772) 231-1400

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:	Trading symbol:	Name of each exchange on which registered:
Common Stock, par value $0.01 per share	ORC	NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On August 12, 2026, Orchid Island Capital, Inc. (the "Company") announced that the Board of Directors of the Company declared a dividend for the month of August 2026 of $0.10 per share of the Company's common stock, to be paid on September 29, 2026 to holders of record on August 31, 2026, with an ex-dividend date of August 31, 2026. In addition, the Company announced certain details of its RMBS portfolio as of July 31, 2026, as well as certain other information regarding the Company. A copy of the Company’s press release announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.

Caution About Forward-Looking Statements.

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, but not limited to, statements about the Company’s distributions. These forward-looking statements are based upon the Company’s present expectations, but the Company cannot assure investors that actual results will not vary from the expectations contained in the forward-looking statements. 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. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated August 12, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 12, 2026		ORCHID ISLAND CAPITAL, INC.
	By:	/s/ Robert E. Cauley
		Robert E. Cauley
		Chairman and Chief Executive Officer

Exhibit 99.1

ORCHID ISLAND CAPITAL ANNOUNCES

AUGUST 2026 MONTHLY DIVIDEND AND

JULY 31, 2026 RMBS PORTFOLIO CHARACTERISTICS

● 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., August 12, 2026 - 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 $0.10 per share will be paid September 29, 2026 to holders of record of the Company’s common stock on August 31, 2026, with an ex-dividend date of August 31, 2026. The Company plans on announcing its next common stock dividend on September 14, 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 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 $108.00 at July 31, 2026. The market value of the short position was $387.3 million.
(3)	Ten-year Ultra Treasury futures contracts were valued at prices of $109.70 at July 31, 2026. The market value of the short position was $65.8 million.

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

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 326.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB