ORCHID ISLAND CAPITAL ANNOUNCES
JUNE 2022 MONTHLY DIVIDEND AND MAY
31, 2022 RMBS PORTFOLIO
CHARACTERISTICS
●
June 2022 Monthly Dividend of $0.045 Per Share of Common Stock
●
RMBS Portfolio Characteristics as of May 31, 2022
●
Next Dividend Announcement Expected July 13, 2022
Vero
Beach, Fla., June 14, 2022 - Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board
of Directors
of the
Company (the
“Board”) declared
a monthly
cash dividend
for the
month of
June 2022.
The dividend
of
$0.045 per share
will be paid
July 27, 2022,
to holders of
record of the
Company’s common
stock on June
30, 2022, with
an
ex-dividend date of June 29, 2022. The Company plans on announcing
its next common stock dividend on July 13, 2022.
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 June 14, 2022, May 31, 2022 and March 31, 2022, the Company had 177,117,186
shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS
portfolio as of
May 31, 2022
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.