Orchid Island Capital Inc (ORC) to Issue Monthly Dividend of $0.14
Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, December 14th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.14 per share by the real estate investment trust on Wednesday, January 10th. This represents a $1.68 annualized dividend and a yield of 17.61%. The ex-dividend date of this dividend is Thursday, December 28th.
Orchid Island Capital has raised its dividend by an average of 3.4% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 83.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Orchid Island Capital to earn $1.55 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 108.4%.
Orchid Island Capital (NYSE:ORC) traded up $0.08 on Thursday, reaching $9.54. 1,268,500 shares of the company’s stock traded hands, compared to its average volume of 939,352. Orchid Island Capital has a fifty-two week low of $9.18 and a fifty-two week high of $12.60.
Orchid Island Capital Company Profile
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
Receive News & Ratings for Orchid Island Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchid Island Capital and related companies with MarketBeat.com's FREE daily email newsletter.