Orchid Island Capital Announces $0.12 Dividend; Record Date Sept. 30, Payable Oct. 30

Orchid Island Capital, Inc. said it will pay a dividend of $0.12 per share, with holders of record on September 30 eligible for payment on October 30. The firm announced the Sep. 25 dividend on Monday, September 8, according to RTT News. The company’s dividend comes with a high payout ratio of 182.3%, signaling that current earnings do not fully cover the distribution and the trust is relying on its balance sheet. Analysts project Orchid Island will earn $0.43 per share next year, which would imply a future payout ratio near 334.9% if the dividend is maintained. Shares traded up $0.03 to $7.22 on the latest session, with volume of 3,853,740 shares versus an average of about 3.8 million. The stock’s 50-day moving average is $7.13 and its 200-day average is $7.24. Orchid Island’s 52-week range is $5.68 to $9.01, its market capitalization is roughly $914.36 million, the price-to-earnings ratio stands at 36.08, and beta is 1.51. In its most recent quarter, Orchid Island reported adjusted earnings of $0.16 per share, surpassing the $0.15 consensus by $0.01. Revenue for the period was $23.15 million, slightly below the $23.25 million analysts expected. Forecasts call for about $0.37 i...