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.
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.
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