Orchid Island Capital Announces May 2026 Monthly Dividend and April 30, 2026 RMBS Portfolio Characteristics

Rhea-AI Summary

Orchid Island Capital (NYSE: ORC) declared a May 2026 monthly cash dividend of $0.10 per common share, payable June 29, 2026 to shareholders of record and ex‑dividend on May 29, 2026.

The company intends to make regular monthly distributions, subject to REIT rules requiring distribution of at least 90% of REIT taxable income. Shares outstanding totaled 200,700,226 as of May 13 and April 30, 2026, up from 196,700,226 on March 31, 2026. Orchid also provided a preliminary intra‑quarter update of RMBS portfolio characteristics as of April 30, 2026.

Positive

• May 2026 monthly dividend of $0.10 per common share declared
• Dividend payable June 29, 2026 with record and ex‑dividend date of May 29, 2026
• Company states an intention to make regular monthly cash distributions to common shareholders
• Shares outstanding increased to 200,700,226 by April 30, 2026 from 196,700,226 on March 31, 2026
• Preliminary intra‑quarter update provided on RMBS portfolio characteristics as of April 30, 2026

Negative

• Company notes it has not established a minimum distribution payment level
• Company is not assured of its ability to make future distributions to stockholders
• Undistributed taxable income may be subject to income tax and excise tax under REIT rules

News Market Reaction – ORC

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In the May 14 session, ORC declined 0.57%, reflecting a mild negative market reaction.

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• May 2026 Monthly Dividend of $0.10 Per Share of Common Stock
• RMBS Portfolio Characteristics as of April 30, 2026
• Next Dividend Announcement Expected June 9, 2026

VERO BEACH, Fla., May 13, 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 May 2026. The dividend of $0.10 per share will be paid June 29, 2026 to holders of record of the Company’s common stock on May 29, 2026, with an ex-dividend date of May 29, 2026. The Company plans on announcing its next common stock dividend on June 9, 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 May 13, 2026 and April 30, 2026, the Company had 200,700,226 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of April 30, 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				Feb-26 -
																																		Apr-26				Apr-26
																		Net												Weighted				CPR				CPR
																		Weighted												Average				(1-Month)				(3-Month)				Modeled Interest
		Current				Fair				% of				Current				Average												Maturity				(Reported				(Reported				Rate Sensitivity (1)
Type		Face				Value				Portfolio				Price				Coupon				GWAC				Age				(Months)				in May)				in May)				(-50 BPS)				(+50 BPS)
Fixed Rate RMBS
15yr 4.5 TBA		$	250,000			$	248,076				2.14%				99.23				4.50%				5.41%				8				170				n/a				n/a			$	3,518			$	(4,113)
15yr Total			250,000				248,076				2.14%				99.23				4.50%				5.41%				8				170				n/a				n/a				3,518				(4,113)
30yr 3.0			320,298				285,121				2.46%				89.02				3.00%				3.52%				60				293				3.9%				6.7%				8,532				(8,672)
30yr 3.5			37,630				34,449				0.30%				91.55				3.50%				4.30%				79				262				1.1%				0.8%				1,012				(1,032)
30yr 4.0			48,820				46,472				0.40%				95.19				4.00%				4.77%				83				272				12.9%				10.6%				1,187				(1,228)
30yr 4.5			442,020				428,330				3.70%				96.90				4.50%				5.46%				28				328				3.5%				7.7%				9,350				(10,333)
30yr 5.0			1,908,999				1,893,235				16.35%				99.17				5.00%				6.00%				13				344				5.2%				5.6%				35,770				(42,269)
30yr 5.5			3,519,332				3,577,448				30.90%				101.65				5.50%				6.46%				13				343				5.9%				8.6%				53,782				(67,626)
30yr 6.0			3,155,624				3,259,141				28.15%				103.28				6.00%				6.92%				16				339				18.5%				21.7%				32,555				(45,492)
30yr 6.5			1,518,506				1,590,370				13.74%				104.73				6.50%				7.39%				20				335				27.3%				26.7%				10,135				(15,677)
30yr 7.0			190,888				202,488				1.75%				106.08				7.00%				7.95%				30				321				42.9%				33.1%				1,303				(1,742)
30yr Total			11,142,117				11,317,054				97.75%				101.57				5.59%				6.53%				18				338				12.7%				14.9%				153,626				(194,071)
Total Pass-Through RMBS			11,392,117				11,565,130				99.89%				101.52				5.57%				6.50%				17				334				12.7%				14.9%				157,144				(198,184)
Structured RMBS
IO 20yr 4.0			4,902				373				0.00%				7.60				4.00%				4.56%				171				63				14.4%				11.7%				1				(1)
IO 30yr 4.0			61,029				11,063				0.10%				18.13				4.00%				4.60%				139				211				5.3%				4.6%				(70)				102
IO 30yr 4.5			2,656				497				0.00%				18.70				4.50%				4.99%				189				157				11.0%				8.7%				(2)				-
IO 30yr 5.0			1,396				274				0.00%				19.63				5.00%				5.37%				190				157				1.8%				4.4%				(2)				1
IO Total			69,983				12,207				0.11%				17.44				4.04%				4.62%				145				197				6.1%				5.2%				(73)				102
IIO 30yr 4.0			14,954				97				0.00%				0.65				0.16%				4.40%				103				245				12.8%				8.6%				69				(44)
Total Structured RMBS			84,937				12,304				0.11%				14.49				3.36%				4.58%				137				206				7.3%				5.8%				(4)				58
Total Mortgage Assets		$	11,477,054			$	11,577,434				100.00%								5.55%				6.49%				18				333				12.7%				14.8%			$	157,140			$	(198,126)

					Hedge		Modeled Interest
		Notional			Period		Rate Sensitivity (1)
Hedge		Balance			End		(-50 BPS)				(+50 BPS)
3-Month SOFR Futures		$	(390,000)		Dec-26		$	(2,113)			$	2,113
5-Year Treasury Future(2)			(180,000)		Aug-30			(3,747)				3,662
10-Year Treasury Future(3)			(123,600)		Jan-33			(3,967)				3,909
10-Year Ultra Treasury Future(4)			(60,000)		Nov-35			(2,669)				2,556
ERIS SOFR Swap Futures			(10,000)		Jun-31			(195)				190
Swaps			(7,014,200)		Nov-30			(143,920)				139,285
TBA Short			(155,000)		May-26			(688)				1,310
Hedge Total		$	(7,932,800)				$	(157,299)			$	153,025
Rate Shock Grand Total							$	(159)			$	(45,101)

(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) Five-year Treasury futures contracts were valued at prices of $107.84 at April 30, 2026. The market value of the short position was $194.1 million.
(3) Ten-year Treasury futures contracts were valued at prices of $110.59 at April 30, 2026. The market value of the short position was $136.7 million.
(4) Ten-year Ultra Treasury futures contracts were valued at prices of $112.86 at April 30, 2026. The market value of the short position was $67.7 million.

RMBS Assets by Agency
($ in thousands)
						Percentage
		Fair				of
Asset Category		Value				Portfolio
As of April 30, 2026
Fannie Mae		$	5,910,702				52.2%
Freddie Mac			5,418,656				47.8%
Total Mortgage Assets		$	11,329,358				100.0%

Investment Company Act of 1940 Whole Pool Test
($ in thousands)
						Percentage
		Fair				of
Asset Category		Value				Portfolio
As of April 30, 2026
Non-Whole Pool Assets		$	590,190				5.2%
Whole Pool Assets			10,739,167				94.8%
Total Mortgage Assets		$	11,329,357				100.0%

Borrowings By Counterparty
($ in thousands)
										Weighted				Weighted
						% of				Average				Average
		Total				Total				Repo				Maturity			Longest
As of April 30, 2026		Borrowings				Debt				Rate				in Days			Maturity
Wells Fargo Securities, LLC		$	540,272				4.9%				3.79%				9		5/21/2026
Hidden Road Partners Civ US LLC			500,781				4.6%				3.78%				27		5/28/2026
Marex Capital Markets Inc.			498,421				4.6%				3.78%				80		7/23/2026
ABN AMRO Bank N.V.			497,665				4.6%				3.77%				22		5/26/2026
Citigroup Global Markets Inc			494,590				4.5%				3.78%				13		5/26/2026
StoneX Financial Inc.			488,036				4.5%				3.79%				125		9/23/2026
ASL Capital Markets Inc.			481,407				4.4%				3.79%				61		9/21/2026
South Street Securities, LLC			477,914				4.4%				3.83%				76		11/13/2026
The Bank of Nova Scotia			472,247				4.3%				3.78%				20		5/22/2026
J.P. Morgan Securities LLC			461,915				4.2%				3.78%				26		5/26/2026
RBC Capital Markets, LLC			451,723				4.1%				3.83%				73		7/27/2026
DV Securities, LLC Repo			450,381				4.1%				3.78%				43		8/21/2026
Cantor Fitzgerald & Co			440,165				4.0%				3.77%				22		5/28/2026
Clear Street LLC			437,924				4.0%				3.79%				39		6/22/2026
Daiwa Securities America Inc.			432,054				4.0%				3.79%				36		6/23/2026
Banco Santander SA			426,957				3.9%				3.79%				14		5/19/2026
Bank of Montreal			416,360				3.8%				3.79%				13		5/13/2026
Goldman, Sachs & Co			406,319				3.7%				3.78%				27		5/27/2026
Merrill Lynch, Pierce, Fenner & Smith			379,970				3.5%				3.79%				18		5/26/2026
ING Financial Markets LLC			370,344				3.4%				3.80%				74		7/13/2026
Mirae Asset Securities (USA) Inc.			328,612				3.0%				3.79%				29		6/17/2026
Brean Capital, LLC			283,485				2.6%				3.79%				19		5/26/2026
Mitsubishi UFJ Securities (USA), Inc.			244,377				2.2%				3.79%				22		5/22/2026
MUFG Securities Canada, Ltd.			227,431				2.1%				3.78%				4		5/4/2026
Nomura Securities International, Inc.			222,189				2.0%				3.79%				41		6/15/2026
Mizuho Securities USA LLC			194,681				1.8%				3.79%				21		5/22/2026
TD Securities (USA) LLC			172,885				1.6%				3.80%				43		6/12/2026
Natixis, New York Branch			96,572				0.9%				3.78%				27		5/27/2026
Lucid Prime Fund, LLC			31,400				0.3%				3.78%				14		5/14/2026
Total Borrowings		$	10,927,077				100.0%				3.79%				38		11/13/2026

Contact:

Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400

FAQ

What is Orchid Island Capital (NYSE: ORC) May 2026 monthly dividend?

Orchid Island Capital declared a May 2026 monthly dividend of $0.10 per share. According to Orchid Island Capital, the cash dividend will be paid on June 29, 2026 to common shareholders of record on May 29, 2026.

When is the ex-dividend date for Orchid Island Capital (ORC) May 2026 dividend?

The ex-dividend date for Orchid Island Capital’s May 2026 dividend is May 29, 2026. According to Orchid Island Capital, shareholders of record on the same date will receive the $0.10 per share cash dividend on June 29, 2026.

How many Orchid Island Capital (ORC) shares were outstanding as of April 30, 2026?

Orchid Island Capital reported 200,700,226 common shares outstanding as of April 30, 2026. According to Orchid Island Capital, this compares with 196,700,226 shares outstanding as of March 31, 2026, indicating an increase in the share count during April 2026.

What dividend policy does Orchid Island Capital (ORC) describe for 2026?

Orchid Island Capital states it intends to make regular monthly cash distributions to common shareholders. According to Orchid Island Capital, as a REIT it must distribute at least 90% of REIT taxable income, but it has not set a minimum distribution level and future payments are not assured.

When is Orchid Island Capital (ORC) expected to announce its next dividend after May 2026?

Orchid Island Capital plans to announce its next common stock dividend on June 9, 2026. According to Orchid Island Capital, this date follows the May 2026 dividend declaration of $0.10 per share and reflects its practice of providing monthly dividend updates.

How do REIT distribution rules affect Orchid Island Capital (ORC) dividends?

As a REIT, Orchid Island Capital must distribute at least 90% of REIT taxable income annually. According to Orchid Island Capital, taxable income not distributed is subject to income tax and certain undistributed amounts may trigger excise tax if not paid by specified dates.

What RMBS portfolio information did Orchid Island Capital (ORC) share for April 30, 2026?

Orchid Island Capital provided a preliminary intra-quarter update on RMBS portfolio characteristics as of April 30, 2026. According to Orchid Island Capital, the update covers RMBS valuation characteristics, assets by agency, 1940 Act tests, repurchase agreement exposure by counterparty, and RMBS risk measures.