-- September 2026 Monthly Dividend of $0.10 Per Share of Common Stock -- RMBS Portfolio Characteristics as of August 31, 2026 -- Next Dividend Announcement Expected October 14, 2026
VERO BEACH, Fla., Sept. 14, 2026 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of September 2026. The dividend of $0.10 per share will be paid October 29, 2026 to holders of record of the Company's common stock on September 30, 2026, with an ex-dividend date of September 30, 2026. The Company plans on announcing its next common stock dividend on October 14, 2026.
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 September 14, 2026, the Company had 197,407,315 shares of common stock outstanding. As of August 31, 2026, the Company had 198,407,315 shares of common stock outstanding. As of June 30, 2026, the Company had 199,603,438 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of August 31, 2026 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. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
RMBS Valuation Characteristics
($ in thousands)
Realized
Realized Jun-26 -
Aug-26 Aug-26
Net Weighted CPR CPR
Weighted Average (1-Month) (3-Month) Modeled Interest
Current Fair % of Current Average Maturity (Reported (Reported Rate Sensitivity (1)
in in
Type Face Value Portfolio Price Coupon GWAC Age (Months) September) September) (-50 BPS) (+50 BPS)
----------------- ----------- ----------- --------- ------- -------- ---- --- -------- ---------- ---------- ----------- ---------
Fixed Rate RMBS
-----------------
30yr 3.0 $ 310,053 $ 268,632 2.41% 86.64 3.00% 3.52% 64 288 6.1% 7.3% $ 8,196 $ (8,337)
30yr 3.5 36,279 32,370 0.29% 89.23 3.50% 4.30% 83 257 16.1% 12.7% 971 (987)
30yr 4.0 46,672 43,290 0.39% 92.75 4.00% 4.77% 87 268 9.8% 8.5% 1,166 (1,200)
30yr 4.5 430,295 407,161 3.65% 94.62 4.50% 5.46% 32 323 4.6% 6.2% 9,708 (10,522)
30yr 5.0 2,142,609 2,077,919 18.63% 96.98 5.00% 6.00% 15 341 4.4% 4.5% 45,924 (51,221)
30yr 5.5 3,975,481 3,965,569 35.55% 99.75 5.50% 6.45% 15 341 5.6% 6.2% 74,189 (85,799)
30yr 6.0 2,984,967 3,042,213 27.27% 101.92 6.00% 6.92% 20 334 9.3% 10.6% 42,934 (52,877)
30yr 6.5 1,207,899 1,254,814 11.25% 103.88 6.50% 7.39% 22 332 18.4% 20.8% 13,254 (17,168)
30yr 7.0 48,305 50,890 0.46% 105.35 7.00% 7.91% 33 320 6.2% 28.9% 565 (687)
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- ---------- ---------- ------- --------
Total Pass-Through
RMBS 11,182,560 11,142,858 99.90% 99.64 5.53% 6.46% 20 335 7.8% 8.9% 196,907 (228,798)
Total Structured
RMBS 79,795 11,596 0.10% 14.53 3.40% 4.59% 141 202 3.4% 7.3% (30) 23
------------------ ---------- ---------- --------- ------- -------- ---- --- -------- ---------- ---------- ------- --------
Total Mortgage
Assets $11,262,355 $11,154,454 100.00% 5.52% 6.45% 21 334 7.7% 8.9% $ 196,877 $(228,775)
================== ========== ========== ========= ======= ======== ==== === ======== ========== ========== ======= ========
Hedge Modeled Interest
Notional Period Rate Sensitivity (1)
Hedge Balance End (-50 BPS) (+50 BPS)
---------- ------------ ------ ------------- -----------
3-Month
SOFR
Futures $ (390,000) Jan-27 $ (1,609) $ 1,609
10-Year
Treasury
Future(2) (358,600) Aug-33 (11,208) 10,816
10-Year
Ultra
Treasury
Future(3) (60,000) May-36 (2,541) 2,438
ERIS SOFR
Swap
Futures (10,000) Sep-31 (172) 168
Swaps (8,114,200) Apr-31 (164,719) 159,233
Swaptions (1,000,000) Dec-31 (5,815) 5,903
TBA Short (344,900) Sep-26 (7,156) 8,291
----------- ----------- ------ --------- -------
Hedge Total $(10,277,700) $ (193,220) $ 188,458
----------- ----------- ------ --------- -------
Rate Shock
Grand
Total $ 3,657 $ (40,317)
=========== =========== ====== ========= =======
(1) Modeled results from Citigroup Global Markets Inc.
Yield Book. Interest rate shocks assume instantaneous
parallel shifts and horizon prices are calculated
assuming constant SOFR option-adjusted spreads. These
results are for illustrative purposes only and actual
results may differ materially.
(2) Ten-year Treasury futures contracts were valued at
prices of $107.66 at August 31, 2026. The market value
of the short position was $386.1 million.
(3) Ten-year Ultra Treasury futures contracts were valued
at prices of $109.42 at August 31, 2026. The market
value of the short position was $65.7 million.
RMBS Assets by Agency
($ in thousands)
---------------------- ---------- ----------
Percentage
Fair of
Asset Category Value Portfolio
---------------------- ----------- ----------
As of August 31, 2026
Fannie Mae $ 5,815,095 52.1%
Freddie Mac 5,339,359 47.9%
----------------------- ---------- ----------
Total Mortgage Assets $11,154,454 100.0%
======================= ========== ==========
Investment Company Act of 1940 Whole Pool Test
($ in thousands)
Percentage
Fair of
Asset Category Value Portfolio
---------------------------- ------------- ----------
As of August 31, 2026
Non-Whole Pool Assets $ 441,316 4.0%
Whole Pool Assets 10,713,138 96.0%
----------------------------- ------------ ----------
Total Mortgage Assets $ 11,154,454 100.0%
============================= ============ ==========
Borrowings By
Counterparty
($ in thousands)
----------------- ---------- ----- -------- -------- ----------
Weighted Weighted
% of Average Average
Total Total Repo Maturity Longest
As of August 31,
2026 Borrowings Debt Rate in Days Maturity
----------------- ----------- ----- -------- -------- ----------
StoneX Financial
Inc. $ 484,749 4.5% 3.79% 20 9/23/2026
Citigroup Global
Markets Inc 471,155 4.4% 3.77% 16 9/21/2026
Hidden Road
Partners Civ US
LLC 468,629 4.4% 3.76% 3 9/10/2026
ABN AMRO Bank N.V. 461,948 4.3% 3.73% 3 9/4/2026
ASL Capital
Markets Inc. 458,821 4.3% 3.77% 18 9/21/2026
Marex Capital
Markets Inc. 456,508 4.3% 3.76% 28 9/28/2026
J.P. Morgan
Securities LLC 439,145 4.1% 3.76% 3 9/3/2026
South Street
Securities, LLC 435,275 4.1% 3.76% 20 11/13/2026
The Bank of Nova
Scotia 434,728 4.1% 3.76% 7 9/17/2026
Cantor Fitzgerald
& Co 410,786 3.8% 3.78% 8 9/8/2026
DV Securities, LLC
Repo 403,125 3.8% 3.77% 9 9/17/2026
Banco Santander SA 402,148 3.8% 3.85% 43 10/13/2026
Daiwa Securities
America Inc. 399,315 3.7% 3.80% 20 9/23/2026
Clear Street LLC 395,150 3.7% 3.76% 17 9/17/2026
Goldman, Sachs &
Co 381,512 3.6% 3.77% 3 9/3/2026
Wells Fargo
Securities, LLC 381,664 3.6% 3.79% 24 9/24/2026
ING Financial
Markets LLC 348,001 3.3% 3.76% 14 9/14/2026
RBC Capital
Markets, LLC 339,728 3.2% 3.79% 4 9/25/2026
TD Securities
(USA) LLC 319,857 3.0% 3.76% 8 9/8/2026
Bank of Montreal 311,693 2.9% 3.78% 4 9/4/2026
Brean Capital, LLC 289,180 2.7% 3.77% 17 9/17/2026
Mirae Asset
Securities (USA)
Inc. 286,065 2.7% 3.77% 21 9/21/2026
Merrill Lynch,
Pierce, Fenner &
Smith 277,178 2.6% 3.78% 27 9/28/2026
MUFG Securities
Canada, Ltd. 260,880 2.4% 3.77% 6 9/17/2026
Morgan Stanley &
Co. LLC 253,685 2.4% 3.79% 30 9/30/2026
Mitsubishi UFJ
Securities (USA),
Inc. 233,252 2.2% 3.78% 17 9/17/2026
Nomura Securities
International,
Inc. 204,675 1.9% 3.75% 14 9/14/2026
Natixis, New York
Branch 183,052 1.7% 3.77% 17 9/17/2026
Mizuho Securities
USA LLC 176,064 1.6% 3.79% 1 9/1/2026
BNP Paribas
Securities Corp. 154,574 1.4% 3.76% 4 9/4/2026
Mesirow Financial,
Inc. 129,989 1.2% 3.76% 17 9/17/2026
Lucid Prime Fund,
LLC 29,633 0.3% 3.76% 10 9/10/2026
Canyon Partners,
LLC 22,823 0.2% 3.73% 14 9/14/2026
------------------ ---------- ----- -------- -------- ----------
Total Borrowings $10,704,987 100.0% 3.77% 14 11/13/2026
================== ========== ===== ======== ======== ==========
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400