Orchid Island Capital Inc to Issue Monthly Dividend of $0.08 (ORC)

Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, February 14th, Wall Street Journal reports. Investors of record on Thursday, February 28th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 13.58%. The ex-dividend date of this dividend is Wednesday, February 27th.

Orchid Island Capital has decreased its dividend payment by an average of 14.1% annually over the last three years. Orchid Island Capital has a payout ratio of 64.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Orchid Island Capital to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 66.7%.

ORC stock traded down $0.03 during midday trading on Thursday, reaching $7.07. The company had a trading volume of 319,676 shares, compared to its average volume of 539,151. The company has a market cap of $345.01 million, a PE ratio of 8.45 and a beta of 0.43. Orchid Island Capital has a 1-year low of $5.83 and a 1-year high of $8.35.

A number of research analysts recently commented on the company. Zacks Investment Research raised Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. LADENBURG THALM/SH SH cut Orchid Island Capital from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Finally, ValuEngine upgraded Orchid Island Capital from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st.

COPYRIGHT VIOLATION WARNING: This news story was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://sportsperspectives.com/2019/02/14/orchid-island-capital-inc-to-issue-monthly-dividend-of-0-08-orc.html.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.

Read More: Why Dividend Stocks May Be Right for You

Dividend History for Orchid Island Capital (NYSE:ORC)

Receive News & Ratings for Orchid Island Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchid Island Capital and related companies with MarketBeat.com's FREE daily email newsletter.