Orchid Island Capital Declares $0.10 Monthly Dividend
Orchid Island Capital, Inc., a mortgage REIT specializing in agency residential mortgage-backed securities, declared a monthly cash dividend of $0.10 per share. The company has paid $0.46 per share in dividends year-to-date in 2026.
Orchid Island Capital, Inc. (NYSE: ORC), a mortgage REIT specializing in agency residential mortgage-backed securities, declared a monthly cash dividend of $0.10 per share on April 15, 2026, payable May 28, 2026. Read more dividend announcements.
The latest dividend represents a sharp reduction from the company's prior distribution level. Year-to-date through 2026, Orchid Island has paid total dividends of $0.46 per share, down from $1.44 per share for the full year 2025 and 2024.
| Dividend Details | |
|---|---|
| Amount | $0.10 per share |
| Declaration Date | April 15, 2026 |
| Payment Date | May 28, 2026 |
| Record Date | Not disclosed |
| Ex-Dividend Date | Not disclosed |
First Quarter 2026 Financial Performance
The company reported a net loss of $20.0 million for the three months ended March 31, 2026, compared with net income of $17.1 million in the same period of 2025. Book value per share decreased by $0.46 during the first quarter to $7.08, reflecting the net loss of $0.11 per share and dividend distribution of $0.36 per share.
Interest income on the portfolio increased approximately $25.7 million from the fourth quarter of 2025. The yield on average agency RMBS rose from 5.57% in the fourth quarter of 2025 to 5.75% for the first quarter of 2026, while repurchase agreement borrowing costs decreased from 4.14% to 3.84%.
The company recorded net realized and unrealized losses of $69.6 million on agency RMBS assets and derivative instruments, including net interest income on interest rate swaps.
Portfolio Activity
For the quarter ended March 31, 2026, Orchid Island received $404.7 million in scheduled and unscheduled principal repayments and prepayments, equating to a three-month constant prepayment rate of approximately 14.7%, down from 15.7% in the prior quarter.
As of March 31, 2026, the company's total mortgage assets had a fair value of $11.34 billion, up from $10.63 billion at December 31, 2025. Fixed-rate RMBS comprised 99.9% of the portfolio with a weighted average coupon of 5.60%.
Stockholders' Equity
At March 31, 2026, the company's stockholders' equity totaled $1.39 billion with 196.7 million shares of common stock outstanding. Since its February 2013 initial public offering, Orchid Island has declared cumulative dividends of $69.79 per share totaling $984.9 million.