• August 2025 Monthly Dividend of $0.12 Per Share of Common Stock
  • RMBS Portfolio Characteristics as of July 31, 2025
  • Next Dividend Announcement Expected September 8, 2025

VERO BEACH, Fla., Aug. 13, 2025 (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 August 2025. The dividend of $0.12 per share will be paid September 29, 2025 to holders of record of the Company’s common stock on August 29, 2025, with an ex-dividend date of August 29, 2025. The Company plans on announcing its next common stock dividend on September 8, 2025.

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 August 13, 2025, the Company had 133,172,673 shares of common stock outstanding. As of July 31, 2025, the Company had 130,595,848 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of July 31, 2025 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, 2024.

RMBS Valuation Characteristics
($ in thousands)
Realized
Realized
May-25 -
Jul-25
Jul-25
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 Aug)
in Aug)
(-50 BPS)
(+50 BPS)
Fixed Rate RMBS
30yr 3.0 $ 848,648 $ 741,107 10.08 % 87.33 3.00 % 3.48 % 53 299 7.8 % 6.9 % $ 21,788 $ (22,024 )
30yr 3.5 166,312 151,220 2.06 % 90.93 3.50 % 4.04 % 65 282 9.4 % 8.3 % 4,127 (4,170 )
30yr 4.0 158,877 148,139 2.02 % 93.24 4.00 % 4.70 % 51 304 9.3 % 6.6 % 3,837 (3,986 )
30yr 4.5 285,759 272,923 3.71 % 95.51 4.50 % 5.44 % 37 318 13.3 % 10.9 % 5,919 (6,433 )
30yr 5.0 418,604 410,003 5.58 % 97.95 5.00 % 5.92 % 32 322 7.6 % 9.9 % 8,643 (9,528 )
30yr 5.5 1,237,391 1,243,479 16.92 % 100.49 5.50 % 6.42 % 13 342 8.5 % 7.3 % 23,348 (27,107 )
30yr 6.0 2,457,281 2,513,089 34.19 % 102.27 6.00 % 6.93 % 11 344 9.2 % 8.7 % 31,899 (40,450 )
30yr 6.5 1,525,438 1,585,715 21.57 % 103.95 6.50 % 7.40 % 13 343 14.9 % 15.5 % 13,850 (19,122 )
30yr 7.0 256,727 270,437 3.68 % 105.34 7.00 % 7.94 % 21 331 15.6 % 25.6 % 1,890 (2,587 )
30yr Total 7,355,037 7,336,112 99.80 % 99.74 5.49 % 6.35 % 21 333 10.4 % 10.3 % 115,301 (135,407 )
Total Pass-Through RMBS 7,355,037 7,336,112 99.80 % 99.74 5.49 % 6.35 % 21 333 10.4 % 10.3 % 115,301 (135,407 )
Structured RMBS
IO 20yr 4.0 6,029 504 0.01 % 8.37 4.00 % 4.57 % 162 72 11.9 % 12.7 % 2 (2 )
IO 30yr 3.0 2,472 300 0.00 % 12.12 3.00 % 3.64 % 126 224 26.8 % 10.4 % - (1 )
IO 30yr 4.0 67,107 12,622 0.17 % 18.81 4.00 % 4.59 % 131 220 7.0 % 6.7 % (211 ) 138
IO 30yr 4.5 2,912 533 0.01 % 18.29 4.50 % 4.99 % 181 166 8.9 % 8.3 % (3 ) 1
IO 30yr 5.0 1,539 322 0.00 % 20.92 5.00 % 5.37 % 181 166 15.5 % 8.3 % (4 ) 2
IO Total 80,059 14,281 0.19 % 17.84 4.01 % 4.59 % 136 206 8.2 % 7.3 % (216 ) 138
IIO 30yr 4.0 19,647 185 0.00 % 0.94 0.00 % 4.40 % 94 254 9.5 % 5.7 % 92 (64 )
Total Structured RMBS 99,706 14,466 0.20 % 14.51 3.22 % 4.55 % 128 215 8.4 % 7.0 % (124 ) 74
Total Mortgage Assets $ 7,454,743 $ 7,350,578 100.00 % 5.46 % 6.33 % 23 332 10.3 % 10.3 % $ 115,177 $ (135,333 )


Hedge Modeled Interest
Notional
Period Rate Sensitivity (1)
Hedge Balance
End (-50 BPS)
(+50 BPS)
3-Month SOFR Futures $ (115,000 ) Aug-26 $ (1,150 ) $ 1,150
5-Year Treasury Future(2) (562,500 ) Sep-25 (11,695 ) 11,433
10-Year Treasury Future(3) (228,500 ) Sep-25 (7,455 ) 7,243
10-Year Ultra Treasury Future(4) (197,500 ) Sep-25 (8,658 ) 8,292
5-Year ERIS SOFR Swap Futures (10,000 ) Sep-25 (231 ) 224
Swaps (3,843,300 ) Feb-31 (96,488 ) 93,225
TBA Short (340,000 ) Aug-25 (2,505 ) 3,747
Hedge Total $ (5,296,800 ) $ (128,182 ) $ 125,314
Rate Shock Grand Total $ (13,005 ) $ (10,019 )


(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 $108.17 at July 31, 2025. The market value of the short position was $608.5 million.
(3 ) Ten-year Treasury futures contracts were valued at prices of $111.06 at July 31, 2025. The market value of the short position was $253.8 million.
(4 ) Ten-year Ultra futures contracts were valued at prices of $113.08 at July 31, 2025. The market value of the short position was $223.3 million.


RMBS Assets by Agency
($ in thousands)
Percentage
Fair
of
Asset Category Value
Portfolio
As of July 31, 2025
Fannie Mae $ 4,419,539 60.1 %
Freddie Mac 2,931,039 39.9 %
Total Mortgage Assets $ 7,350,578 100.0 %


Investment Company Act of 1940 Whole Pool Test
($ in thousands)
Percentage
Fair
of
Asset Category Value
Portfolio
As of July 31, 2025
Non-Whole Pool Assets $ 417,423 5.7 %
Whole Pool Assets 6,933,155 94.3 %
Total Mortgage Assets $ 7,350,578 100.0 %


Borrowings By Counterparty
($ in thousands)
Weighted
Weighted
% of
Average
Average
Total
Total
Repo
Maturity Longest
As of July 31, 2025 Borrowings
Debt
Rate
in Days Maturity
J.P. Morgan Securities LLC $ 343,768 5.0 % 4.51 % 59 10/23/2025
Mirae Asset Securities (USA) Inc. 334,110 4.9 % 4.42 % 79 11/13/2025
ASL Capital Markets Inc. 326,866 4.8 % 4.48 % 44 9/18/2025
ABN AMRO Bank N.V. 324,146 4.8 % 4.47 % 51 9/22/2025
Marex Capital Markets Inc. 307,526 4.5 % 4.47 % 28 9/25/2025
Citigroup Global Markets Inc 303,177 4.5 % 4.49 % 87 10/30/2025
Wells Fargo Bank, N.A. 301,894 4.4 % 4.49 % 14 8/14/2025
Goldman, Sachs & Co 301,322 4.4 % 4.48 % 28 8/29/2025
RBC Capital Markets, LLC 300,339 4.4 % 4.52 % 20 8/27/2025
DV Securities, LLC Repo 293,657 4.3 % 4.48 % 71 10/28/2025
ING Financial Markets LLC 292,441 4.3 % 4.49 % 48 9/17/2025
Daiwa Securities America Inc. 291,352 4.3 % 4.50 % 47 9/23/2025
Bank of Montreal 288,463 4.2 % 4.50 % 35 10/28/2025
South Street Securities, LLC 280,229 4.1 % 4.47 % 58 10/14/2025
StoneX Financial Inc. 280,050 4.1 % 4.49 % 49 9/18/2025
Clear Street LLC 278,404 4.1 % 4.48 % 44 9/22/2025
Cantor Fitzgerald & Co 277,431 4.1 % 4.50 % 27 8/27/2025
Merrill Lynch, Pierce, Fenner & Smith 260,388 3.8 % 4.51 % 22 8/25/2025
MUFG Securities Canada, Ltd. 254,861 3.7 % 4.47 % 8 8/8/2025
Mitsubishi UFJ Securities (USA), Inc. 247,115 3.6 % 4.49 % 61 10/14/2025
The Bank of Nova Scotia 243,502 3.6 % 4.49 % 54 10/23/2025
Banco Santander SA 187,018 2.7 % 4.50 % 47 9/16/2025
Nomura Securities International, Inc. 142,942 2.1 % 4.47 % 25 9/8/2025
Mizuho Securities USA LLC 136,238 2.0 % 4.52 % 28 8/28/2025
Natixis, New York Branch 104,700 1.5 % 4.49 % 28 8/29/2025
Wells Fargo Securities, LLC 73,823 1.1 % 4.48 % 89 10/28/2025
Lucid Prime Fund, LLC 34,862 0.5 % 4.50 % 14 8/14/2025
Total Borrowings $ 6,810,624 100.0 % 4.49 % 44 11/13/2025

Contact:

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