Orchid Island Capital issue May 2015 dividend details

PUBLISHED: 11 May 2015 @ 22:07 | Comments (0) |

May 2015 Monthly Dividend of $0.18 Per Share – RMBS Portfolio Characteristics as of April 30, 2015

Orchid Island Capital (NYSE:ORC) announced today that the Board of Directors declared a monthly cash dividend for the month of May 2015. The dividend of $0.18 per share will be paid May 29, 2015, to holders of record on May 26, 2015, with an ex-dividend date of May 21, 2015.

The Company intends to make regular monthly cash distributions to its stockholders. In order to qualify as a real estate investment trust, 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 certain percentages 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 May 11, 2015, the Company had 18,848,257 shares outstanding, including shares sold via the Company’s at the market program through that date that have not yet settled. At March 31, 2015, the Company had 17,924,383 shares outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of April 30, 2015 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 in Agency RMBS that are either traditional pass-through Agency RMBS or structured Agency RMBS. Orchid Island Capital, Inc. has elected to be taxed as a REIT for federal income tax purposes.

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