Orchid Island Capital Announces September 2025 Monthly Dividend And August 31, 2025 RMBS Portfolio Characteristics

2025-09-08 04:16:11

(MENAFN- GlobeNewsWire - Nasdaq)

September 2025 Monthly Dividend of $0.12 Per Share of Common Stock
RMBS Portfolio Characteristics as of August 31, 2025
Next Dividend Announcement Expected October 15, 2025

VERO BEACH, Fla., Sept. 08, 2025 (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 September 2025. The dividend of $0.12 per share will be paid October 30, 2025 to holders of record of the Company's common stock on September 30, 2025, with an ex-dividend date of September 30, 2025. The Company plans on announcing its next common stock dividend on October 15, 2025.

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 September 8, 2025, the Company had 146,130,135 shares of common stock outstanding. As of August 31, 2025, the Company had 141,863,067 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of August 31, 2025 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, 2024.

RMBS Valuation Characteristics
($ in thousands)
																								Realized
																					Realized		Jun-25 -
																					Aug-25		Aug-25
												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 Sep)		in Sep)	(-50 BPS)	(+50 BPS)
Fixed Rate RMBS
15yr 5.0 TBA	$	250,000		$	252,617		3.07	%		101.05		5.00	%		5.84	%	4		174		n/a			n/a		$	2,900		$	(3,532	)
15yr Total		250,000			252,617		3.07	%		101.05		5.00	%		5.84	%	4		174		n/a			n/a			2,900			(3,532	)
30yr 3.0	$	841,083		$	744,124		9.05	%		88.47		3.00	%		3.48	%	54		298		6.7	%		7.0	%	$	21,908		$	(22,062	)
30yr 3.5		164,582			151,262		1.84	%		91.91		3.50	%		4.04	%	66		281		10.6	%		9.6	%		4,146			(4,172	)
30yr 4.0		157,284			148,319		1.80	%		94.30		4.00	%		4.70	%	52		303		5.6	%		7.3	%		3,851			(3,993	)
30yr 4.5		281,933			273,042		3.32	%		96.85		4.50	%		5.44	%	38		317		11.2	%		11.1	%		5,791			(6,359	)
30yr 5.0		451,421			447,911		5.45	%		99.22		5.00	%		5.93	%	31		323		8.6	%		9.0	%		9,062			(10,243	)
30yr 5.5		1,753,845			1,779,536		21.65	%		101.46		5.50	%		6.45	%	11		346		3.9	%		5.8	%		29,277			(36,094	)
30yr 6.0		2,492,617			2,569,706		31.26	%		103.09		6.00	%		6.93	%	12		344		9.7	%		9.1	%		27,452			(37,912	)
30yr 6.5		1,504,121			1,571,364		19.12	%		104.47		6.50	%		7.39	%	14		342		10.7	%		14.0	%		10,800			(16,491	)
30yr 7.0		252,767			266,861		3.25	%		105.58		7.00	%		7.94	%	22		330		26.8	%		24.5	%		1,728			(2,283	)
30yr Total		7,899,653			7,952,125		96.75	%		100.66		5.49	%		6.36	%	21		334		8.8	%		9.8	%		114,015			(139,609	)
Total Pass-Through RMBS		8,149,653			8,204,742		99.82	%		100.68		5.48	%		6.35	%	20		329		8.8	%		9.8	%		116,915			(143,141	)
Structured RMBS
IO 20yr 4.0		5,891			491		0.01	%		8.33		4.00	%		4.57	%	163		71		13.8	%		13.2	%		2			(2	)
IO 30yr 3.0		2,401			293		0.00	%		12.19		3.00	%		3.64	%	127		223		1.0	%		10.4	%		-			(1	)
IO 30yr 4.0		66,425			12,576		0.15	%		18.93		4.00	%		4.60	%	132		219		4.3	%		6.8	%		(253	)		154
IO 30yr 4.5		2,883			530		0.01	%		18.39		4.50	%		4.99	%	182		165		3.4	%		7.2	%		(5	)		2
IO 30yr 5.0		1,511			318		0.00	%		21.03		5.00	%		5.37	%	182		165		1.2	%		8.2	%		(5	)		3
IO Total		79,111			14,208		0.17	%		17.96		4.01	%		4.59	%	137		205		4.8	%		7.4	%		(261	)		156
IIO 30yr 4.0		19,079			222		0.00	%		1.16		0.00	%		4.40	%	95		253		12.4	%		7.6	%		106			(78	)
Total Structured RMBS		98,190			14,430		0.18	%		14.70		3.23	%		4.56	%	129		214		6.3	%		7.5	%		(155	)		78

Total Mortgage Assets	$	8,247,843		$	8,219,172		100.00	%				5.45	%		6.33	%	22		328		8.8	%		9.8	%	$	116,760		$	(143,063	)

			Hedge		Modeled Interest
	Notional		Period		Rate Sensitivity (1)
Hedge	Balance		End		(-50 BPS)			(+50 BPS)
3-Month SOFR Futures	$	(355,625	)	Sep-26		$	(3,556	)	$	3,556
5-Year Treasury Future(2)		(562,500	)	Dec-25			(11,789	)		11,613
10-Year Treasury Future(3)		(228,500	)	Dec-25			(7,522	)		7,308
10-Year Ultra Treasury Future(4)		(197,500	)	Dec-25			(8,864	)		8,464
5-Year ERIS SOFR Swap Futures		(10,000	)	Sep-25			(236	)		229
Swaps		(3,943,300	)	Feb-31			(99,092	)		95,773
TBA Short		(300,300	)	Sep-25			(3,742	)		5,112
Hedge Total	$	(5,597,725	)			$	(134,801	)	$	132,055
Rate Shock Grand Total						$	(18,041	)	$	(11,008	)

(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	)	Five-year Treasury futures contracts were valued at prices of $109.47 at August 31, 2025. The market value of the short position was $615.8 million.
(3	)	Ten-year Treasury futures contracts were valued at prices of $112.50 at August 31, 2025. The market value of the short position was $257.1 million.
(4	)	Ten-year Ultra futures contracts were valued at prices of $114.40 at August 31, 2025. The market value of the short position was $225.9 million.

RMBS Assets by Agency
($ in thousands)
				Percentage
	Fair		of
Asset Category	Value		Portfolio
As of August 31, 2025
Fannie Mae	$	4,726,166			59.3	%
Freddie Mac		3,240,389			40.7	%
Total Mortgage Assets	$	7,966,555			100.0	%

Investment Company Act of 1940 Whole Pool Test
($ in thousands)
				Percentage
	Fair		of
Asset Category	Value		Portfolio
As of August 31, 2025
Non-Whole Pool Assets	$	516,595			6.5	%
Whole Pool Assets		7,449,960			93.5	%
Total Mortgage Assets	$	7,966,555			100.0	%

Borrowings By Counterparty
($ in thousands)
						Weighted		Weighted
				% of	Average		Average
	Total		Total	Repo		Maturity		Longest
As of August 31, 2025	Borrowings		Debt	Rate		in Days		Maturity
Merrill Lynch, Pierce, Fenner & Smith	$	409,685		5.5	%	4.41	%		79	2/13/2026
Citigroup Global Markets Inc		379,874		5.1	%	4.47	%		56	12/1/2025
Wells Fargo Securities, LLC		372,762		5.0	%	4.45	%		44	10/28/2025
Bank of Montreal		360,232		4.8	%	4.46	%		41	11/28/2025
ASL Capital Markets Inc.		360,147		4.8	%	4.43	%		51	8/27/2026
ABN AMRO Bank N.V.		353,995		4.7	%	4.47	%		19	9/22/2025
South Street Securities, LLC		347,968		4.6	%	4.40	%		94	8/27/2026
J.P. Morgan Securities LLC		343,427		4.6	%	4.51	%		28	10/23/2025
DV Securities, LLC Repo		341,187		4.6	%	4.48	%		41	10/28/2025
Goldman, Sachs & Co		339,354		4.5	%	4.45	%		27	9/29/2025
Mirae Asset Securities (USA) Inc.		333,091		4.4	%	4.48	%		54	11/13/2025
StoneX Financial Inc.		331,030		4.4	%	4.49	%		20	9/29/2025
Clear Street LLC		307,900		4.1	%	4.48	%		30	10/31/2025
Marex Capital Markets Inc.		304,426		4.1	%	4.46	%		23	9/25/2025
RBC Capital Markets, LLC		300,548		4.0	%	4.49	%		21	9/26/2025
ING Financial Markets LLC		292,441		3.9	%	4.49	%		17	9/17/2025
Daiwa Securities America Inc.		289,652		3.9	%	4.48	%		32	11/13/2025
Cantor Fitzgerald & Co		275,494		3.7	%	4.47	%		26	9/26/2025
Banco Santander SA		265,835		3.6	%	4.50	%		16	9/16/2025
MUFG Securities Canada, Ltd.		254,254		3.4	%	4.48	%		5	9/5/2025
Mitsubishi UFJ Securities (USA), Inc.		245,918		3.3	%	4.49	%		38	10/14/2025
The Bank of Nova Scotia		242,470		3.2	%	4.50	%		37	10/23/2025
Nomura Securities International, Inc.		159,190		2.1	%	4.44	%		33	10/14/2025
Mizuho Securities USA LLC		137,455		1.8	%	4.49	%		26	9/26/2025
Natixis, New York Branch		104,822		1.4	%	4.48	%		29	9/29/2025
Lucid Prime Fund, LLC		34,922		0.5	%	4.49	%		11	9/11/2025
Total Borrowings	$	7,488,079		100.0	%	4.47	%		37	8/27/2026

Contact:

Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400

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