Orchid Island Capital (ORC) 8-K Orchid Island Capital Announces 2022 Monthly Dividend and July 2022 Monthly Dividend of $0.045 Per Share of Common Stock

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,DC 20549

FORM

8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

July 13, 2022

Orchid Island Capital, Inc.

(Exact Name of Registrant as Specified in Charter)

Maryland

001-35236

27-3269228

(State or Other Jurisdiction of

Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

3305 Flamingo Drive

,

Vero Beach

,

Florida

32963

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number,including area code

(

772

)

231-1400

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intendedto simultaneously satisfy the filing obligation of the

registrant under any of the following provisions:

☐

Written communications pursuantto Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the ExchangeAct (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading symbol:

Name of each exchangeon which registered:

Common Stock, par value $0.01 per share

ORC

NYSE

Indicate by check mark whether the registrant is an emerging growthcompany as defined in Rule 405 of the Securities Act of

1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities ExchangeAct of 1934 (§240.12b-2 of this chapter).

Emerging growth company

☐

If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period

for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange

Act.

☐

Item 2.02.Results of Operations and Financial Condition.

On July13, 2022,Orchid IslandCapital, Inc.(the “Company”)announced itsestimated bookvalue of$2.87 pershare as of

June 30,2022, certaindetails ofits RMBSportfolioas ofJune 30,2022, andestimated GAAPnet lossper shareof $0.34,

including an estimated $0.46 per share of net realized and unrealized losses, forthe quarter ended June 30, 2022. These figures

and the estimated book value per share and estimatedGAAP net loss per share are preliminary,subject to change, and subject

to review by the Company’s independentregistered public accounting firm.

Item 8.01.Other Events.

On July 13,2022, the Companyannounced that theBoard of Directorsof the Companydeclared a dividendfor the monthof

July 2022 of $0.035 per share of the Company’s common stock to be paid on August 29, 2022 to holders of record on July 29,

2022, with an ex-dividend date of July 28, 2022. In addition, the Company announced certain details ofits RMBS portfolio as

ofJune30,2022aswellascertainotherinformationregardingtheCompany.AcopyoftheCompany’spressrelease

announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated

herein by this reference.

Caution About Forward-Looking Statements.

This Current Report on Form 8-K contains forward-looking statements withinthe meaning of the Private Securities Litigation

ReformActof1995andotherfederalsecuritieslaws,including,butnotlimitedto,statementsabouttheCompany’s

distributions. These forward-looking statements are based upon the Company’spresent expectations, but the Company cannot

assure investors thatactual results willnot vary fromthe expectations containedin the forward-lookingstatements. Investors

shouldnotplaceunduerelianceuponforwardlookingstatements.Forfurtherdiscussionofthefactorsthatcouldaffect

outcomes, please referto the “Risk Factors” sectionof the Company'sAnnual Report onForm 10-K for thefiscal year ended

December31,2021.Allforward-lookingstatementsspeakonlyasofthedateonwhichtheyaremade.Newrisksand

uncertaintiesarise overtime, andit isnot possibleto predictthose eventsor howthey mayaffectthe Company.Except as

required bylaw,the Companyis notobligated to,and doesnot intendto, updateor reviseany forward-lookingstatements,

whether as a result of new information, future events or otherwise.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.

Description

99.1

Press Release dated July 13, 2022

104

Cover Page Interactive Data File (embedded within the Inline XBRL

document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused thisreport to be signed on

its behalf by the undersigned hereunto duly authorized.

Date: July 13, 2022

ORCHID ISLAND CAPITAL,INC.

By:

/s/ Robert E. Cauley

Robert E. Cauley

Chairman and Chief Executive Officer