ORCHID ISLAND CAPITAL ANNOUNCES
DECEMBER 2022 MONTHLY DIVIDEND AND NOVEMBER 30, 2022 RMBS
PORTFOLIO CHARACTERISTICS
●
December 2022 Monthly Dividend of $0.16 Per Share of Common Stock
●
RMBS Portfolio Characteristics as of November 30, 2022
●
Estimated Book Value per common share of $11.9
5
to $12.05 as of December 9, 2022
●
Next Dividend Announcement Expected January 11, 2023
Vero
Beach, Fla., December 13, 2022 - 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 December
2022. The dividend
of $0.16 per share will be paid January 27, 2023 to holders of record of the Company’s
common stock on December 30, 2022,
with an
ex-dividend date of
December 29, 2022.
The Company plans
on announcing its
next common stock
dividend on January
11, 2023.
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 December 13,
2022 and November 30,
2022, the Company had
37,307,255 shares of common
stock outstanding. As of
September 30, 2022, the Company had 35,066,251 shares of common stock outstanding
.
RMBS Portfolio Characteristics
Details of
the RMBS
portfolio
as of
November 30,
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
Estimated December 9, 2022 Book Value
Per Share
The
Company
estimates
book value
per share
as of
December
9, 2022
to be
approximately
$11.95
to $12.05
per share,
an
increase of
approximately 5%
to 10%
from the
book value
at September
30, 2022
of $11.42
per share.
The estimated
book
value per
share includes
a deduction
for the
Company’s
November 2022
dividend that
will be
paid on
December 28,
2022,
which
was declared
on November
9, 2022
with
a
November
30,
2022
record
date.
The estimated
book
value
per share
is
unaudited and has not been verified or reviewed by any third party. The Company undertakes no obligation to update or revise
its estimated book value per share.
