Orchid Island Capital Declares September 2024 Dividend
Orchid Island Capital Details Monthly Dividend Announcement
Orchid Island Capital, Inc. (the "Company") (NYSE: ORC) has officially declared a monthly cash dividend of $0.12 per share for September 2024. The Board of Directors made this decision to ensure continuous distributions to shareholders, reflecting the Company's commitment to its investors.
Dividend Payment Timeline
The upcoming dividend will be paid on October 30, 2024. Shareholders must be on record by September 30, 2024, while the ex-dividend date is also set for the same day. Notably, the Company plans to announce details about its subsequent dividend on October 16, 2024.
The Importance of Dividends
Regular monthly cash distributions are pivotal for investors, particularly those relying on dividend income. Orchid Island Capital aims to maintain its status as a Real Estate Investment Trust (REIT) by adhering to the regulatory requirement of distributing at least 90% of its taxable income. However, the Company has clarified that there is no guaranteed minimum level of distributions in the future.
Company Share Structure
As of September 9, 2024, Orchid Island Capital has 73,997,050 shares of common stock outstanding. This figure reflects a slight increase from the 73,947,050 shares outstanding as of August 31, 2024. It has also shown growth from 64,824,374 shares reported on June 30, 2024.
Analysis of RMBS Portfolio
Under the RMBS (Residential Mortgage-Backed Securities) portfolio category, as of August 31, 2024, the Company maintains a diversified asset base. Key characteristics include valuation metrics, asset allocation by agency, and exposure to various counterparties in repurchase agreements. These factors are vital for assessing the risk and performance of the Company's portfolios.
Characteristics of RMBS Holdings
The RMBS portfolio has been structured to mitigate risks while maximizing returns. With a blend of Agency RMBS products and strategic leverage, the Company endeavors to enhance its income-generating capabilities. The agility in managing the investments reflects Orchid Island Capital's goal to adapt to changing financial landscapes effectively.
About Orchid Island Capital
Orchid Island Capital, Inc. is recognized as a specialty finance company that targets investments in Agency RMBS on a leveraged basis. The investment strategy predominantly focuses on two main types of Agency RMBS: traditional pass-through instruments like mortgage pass-through certificates, as well as structured products.
Frequently Asked Questions
What is the dividend amount announced for September 2024?
The announced dividend amount is $0.12 per share.
When will the dividend be paid?
The dividend is set to be paid on October 30, 2024.
What is the significance of the ex-dividend date?
The ex-dividend date indicates the deadline for a shareholder to be eligible for the declared dividend; in this case, it is September 30, 2024.
How many shares does Orchid Island Capital currently have outstanding?
Orchid Island Capital has 73,997,050 shares of common stock outstanding as of September 9, 2024.
What is the focus of Orchid Island Capital's investments?
The company focuses on investing in Agency RMBS, with a strategic emphasis on balancing risk and return in its portfolio.
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