Orchid Island Capital Announces March 2026 Monthly Dividend And February 28, 2026 RMBS Portfolio Characteristics

2026-03-18 04:16:39

(MENAFN- GlobeNewsWire - Nasdaq)

March 2026 Monthly Dividend of $0.12 Per Share of Common Stock
RMBS Portfolio Characteristics as of February 28, 2026
Next Dividend Announcement Expected April 15, 2026

VERO BEACH, Fla., March 18, 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 March 2026. The dividend of $0.12 per share will be paid April 29, 2026 to holders of record of the Company's common stock on March 31, 2026, with an ex-dividend date of March 31, 2026. The Company plans on announcing its next common stock dividend on April 15, 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 March 18, 2026, the Company had 195,511,115 shares of common stock outstanding. As of February 28, 2026, the Company had 193,621,550 shares of common stock outstanding. As of December 31, 2025, the Company had 181,985,900 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of February 28, 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		Dec-25 -
																									Feb-26		Feb-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 Mar)		in Mar)	(-50 BPS)		(+50 BPS)
Fixed Rate RMBS
30yr 3.0	$	326,264		$	299,711			2.69	%		91.86			3.00	%		3.52	%		58			295			7.0	%		6.6	%	$	8,732		$	(8,810	)
30yr 3.5		37,847			35,791			0.32	%		94.57			3.50	%		4.30	%		77			264			0.7	%		0.9	%		1,019			(1,044	)
30yr 4.0		49,857			48,978			0.44	%		98.24			4.00	%		4.77	%		81			274			11.2	%		10.1	%		1,150			(1,207	)
30yr 4.5		265,635			263,886			2.36	%		99.34			4.50	%		5.44	%		44			311			7.6	%		6.6	%		4,593			(5,413	)
30yr 5.0		1,712,485			1,731,362			15.51	%		101.10			5.00	%		6.00	%		12			346			5.5	%		5.5	%		23,967			(32,392	)
30yr 5.5		3,423,264			3,524,995			31.58	%		102.97			5.50	%		6.46	%		11			345			8.9	%		7.9	%		32,132			(49,754	)
30yr 6.0		3,220,440			3,346,156			29.98	%		103.90			6.00	%		6.93	%		15			340			18.7	%		17.1	%		17,518			(29,450	)
30yr 6.5		1,602,011			1,684,327			15.09	%		105.14			6.50	%		7.39	%		18			338			22.5	%		20.1	%		5,701			(8,992	)
30yr 7.0		202,017			213,445			1.91	%		105.66			7.00	%		7.95	%		28			323			22.5	%		33.4	%		1,329			(1,521	)
30yr Total		10,839,820			11,148,651			99.89	%		102.85			5.63	%		6.56	%		16			339			13.5	%		12.7	%		96,141			(138,583	)
Total Pass-Through RMBS		10,839,820			11,148,651			99.89	%		102.85			5.63	%		6.56	%		16			339			13.5	%		12.7	%		96,141			(138,583	)
Structured RMBS
IO 20yr 4.0		5,133			400			0.00	%		7.80			4.00	%		4.56	%		169			65			6.6	%		9.1	%		1			(2	)
IO 30yr 4.0		62,040			11,336			0.10	%		18.27			4.00	%		4.60	%		137			213			4.2	%		5.7	%		(144	)		15
IO 30yr 4.5		2,713			487			0.00	%		17.96			4.50	%		4.99	%		187			159			7.8	%		8.7	%		(5	)		1
IO 30yr 5.0		1,422			283			0.00	%		19.91			5.00	%		5.37	%		188			159			0.9	%		1.8	%		(5	)		-
IO Total		71,308			12,506			0.11	%		17.54			4.04	%		4.62	%		143			199			4.5	%		6.0	%		(153	)		14
IIO 30yr 4.0		15,796			174			0.00	%		1.10			0.14	%		4.40	%		101			247			11.6	%		16.7	%		616			(172	)
Total Structured RMBS		87,104			12,680			0.11	%		14.56			3.33	%		4.58	%		135			208			5.8	%		8.0	%		463			(158	)

Total Mortgage Assets	$	10,926,924		$	11,161,331			100.00	%					5.61	%		6.55	%		17			338			13.4	%		12.7	%	$	96,604		$	(138,741	)

				Hedge			Modeled Interest
	Notional		Period			Rate Sensitivity (1)
Hedge	Balance		End			(-50 BPS)		(+50 BPS)
3-Month SOFR Futures	$	(390,000	)		Oct-26			$	(2,584	)	$	2,584
10-Year Treasury Future(2)		(53,000	)		Jan-33				(1,760	)		1,727
10-Year Ultra Treasury Future(3)		(60,000	)		Nov-35				(2,775	)		2,651
ERIS SOFR Swap Futures		(10,000	)		Mar-31				(228	)		221
Swaps		(6,409,800	)		May-30				(126,338	)		122,629
TBA Short		(272,000	)		Mar-26				(1,171	)		1,925
Hedge Total	$	(7,194,800	)					$	(134,856	)	$	131,737
Rate Shock Grand Total								$	(38,252	)	$	(7,004	)

(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 $113.81 at February 28, 2026. The market value of the short position was $60.3 million.
(3)	Ten-year Ultra Treasury futures contracts were valued at prices of $116.73 at February 28, 2026. The market value of the short position was $70.0 million.

RMBS Assets by Agency
($ in thousands)
				Percentage
	Fair		of
Asset Category	Value		Portfolio
As of February 28, 2026
Fannie Mae	$	5,614,215			50.3	%
Freddie Mac		5,547,116			49.7	%
Total Mortgage Assets	$	11,161,331			100.0	%

Investment Company Act of 1940 Whole Pool Test
($ in thousands)
				Percentage
	Fair		of
Asset Category	Value		Portfolio
As of February 28, 2026
Non-Whole Pool Assets	$	619,428			5.5	%
Whole Pool Assets		10,541,903			94.5	%
Total Mortgage Assets	$	11,161,331			100.0	%

Borrowings By Counterparty
($ in thousands)
							Weighted		Weighted
				% of		Average	Average
	Total		Total	Repo		Maturity	Longest
As of February 28, 2026	Borrowings		Debt	Rate		in Days	Maturity
Citigroup Global Markets Inc	$	510,479			4.8	%		3.80	%	11	3/23/2026
Hidden Road Partners Civ US LLC		504,581			4.8	%		3.78	%	78	5/28/2026
ABN AMRO Bank N.V.		497,585			4.7	%		3.80	%	71	5/26/2026
The Bank of Nova Scotia		492,553			4.6	%		3.79	%	20	3/23/2026
Marex Capital Markets Inc.		485,672			4.6	%		3.79	%	28	4/14/2026
South Street Securities, LLC		482,527			4.5	%		3.84	%	106	11/13/2026
J.P. Morgan Securities LLC		482,370			4.5	%		3.78	%	26	3/26/2026
Wells Fargo Securities, LLC		476,655			4.5	%		3.81	%	20	5/21/2026
RBC Capital Markets, LLC		458,288			4.3	%		3.86	%	118	7/27/2026
Merrill Lynch, Pierce, Fenner & Smith		452,722			4.3	%		3.80	%	13	3/23/2026
Daiwa Securities America Inc.		451,139			4.3	%		3.94	%	49	5/18/2026
ASL Capital Markets Inc.		450,335			4.2	%		3.85	%	55	9/21/2026
Bank of Montreal		431,115			4.1	%		3.79	%	13	3/13/2026
StoneX Financial Inc.		426,694			4.0	%		3.79	%	23	3/23/2026
Cantor Fitzgerald & Co		419,038			3.9	%		3.79	%	25	3/27/2026
DV Securities, LLC Repo		406,310			3.8	%		3.78	%	101	8/21/2026
Clear Street LLC		399,651			3.8	%		3.79	%	16	3/19/2026
Goldman, Sachs & Co		381,962			3.6	%		3.78	%	26	3/26/2026
ING Financial Markets LLC		381,030			3.6	%		3.79	%	11	3/11/2026
Banco Santander SA		363,048			3.4	%		3.78	%	24	5/19/2026
Mirae Asset Securities (USA) Inc.		340,588			3.2	%		3.79	%	22	4/8/2026
Brean Capital, LLC		288,543			2.7	%		3.79	%	17	3/23/2026
Mitsubishi UFJ Securities (USA), Inc.		252,183			2.4	%		3.81	%	23	3/23/2026
MUFG Securities Canada, Ltd.		240,100			2.3	%		3.80	%	2	3/2/2026
Nomura Securities International, Inc.		200,611			1.9	%		3.92	%	16	3/16/2026
Mizuho Securities USA LLC		200,457			1.9	%		3.79	%	45	5/19/2026
Natixis, New York Branch		100,664			0.9	%		3.79	%	27	3/27/2026
Lucid Prime Fund, LLC		32,741			0.3	%		3.78	%	12	3/12/2026
Total Borrowings	$	10,609,641			100.0	%		3.81	%	39	11/13/2026

Contact:

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

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