- November 2026 Monthly Dividend of $0.10 Per Share of Common Stock
- RMBS Portfolio Characteristics as of October 31, 2026
- Estimated book value per common share of $6.52 to $6.54 as of November 6, 2026
- Next Dividend Announcement Expected December 8, 2026
VERO BEACH, Fla., Nov. 10, 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 November 2026. The dividend of $0.10 per share will be paid December 31, 2026 to holders of record of the Company’s common stock on November 30, 2026, with an ex-dividend date of November 30, 2026. The Company plans on announcing its next common stock dividend on December 8, 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 November 10, 2026, the Company had 188,601,860 shares of common stock outstanding. As of October 31, 2026, the Company had 192,992,160 shares of common stock outstanding. As of September 30, 2026, the Company had 194,661,864 shares of common stock outstanding.
RMBS Portfolio Characteristics
Details of the RMBS portfolio as of October 31, 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
Estimated November 6, 2026 Book Value Per Share
The Company estimates book value per share as of November 6, 2026 to be approximately $6.52 to $6.54 per share, an increase of approximately 8% to 9% from the book value at September 30, 2026 of $6.02 per share. The estimated book value per share includes a deduction for the Company’s October 2026 dividend that will be paid on November 27, 2026, which was declared on October 14, 2026 with an October 30, 2026 record date. The estimated book value per share is unaudited and has not been verified or reviewed by any third party. The Company is providing this update to its estimated book value per share given recent market conditions and resulting book value volatility. The Company undertakes no obligation to update its estimated book value per share.
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company’s distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
| RMBS Valuation Characteristics | ||||||||||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Realized | ||||||||||||||||||||||||||||||||||||||||||||||||
| Realized | Aug-26 – | |||||||||||||||||||||||||||||||||||||||||||||||
| Oct-26 | Oct-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 November) | in November) | (-50 BPS) | (+50 BPS) | ||||||||||||||||||||||||||||||||||||
| Fixed Rate RMBS | ||||||||||||||||||||||||||||||||||||||||||||||||
| 30yr 3.0 | $ | 305,314 | $ | 260,785 | 2.45% | 85.42 | 3.00% | 3.52% | 66 | 286 | 6.5% | 6.4% | $ | 7,912 | $ | (8,023) | ||||||||||||||||||||||||||||||||
| 30yr 3.5 | 35,527 | 31,140 | 0.29% | 87.65 | 3.50% | 4.30% | 85 | 255 | 6.8% | 8.6% | 923 | (935) | ||||||||||||||||||||||||||||||||||||
| 30yr 4.0 | 45,959 | 42,064 | 0.40% | 91.52 | 4.00% | 4.77% | 89 | 266 | 1.6% | 4.7% | 1,119 | (1,150) | ||||||||||||||||||||||||||||||||||||
| 30yr 4.5 | 424,423 | 395,862 | 3.73% | 93.27 | 4.50% | 5.46% | 34 | 321 | 5.1% | 5.9% | 9,365 | (10,087) | ||||||||||||||||||||||||||||||||||||
| 30yr 5.0 | 1,751,837 | 1,673,232 | 15.75% | 95.51 | 5.00% | 6.00% | 19 | 336 | 4.4% | 4.8% | 37,027 | (40,588) | ||||||||||||||||||||||||||||||||||||
| 30yr 5.5 | 3,927,211 | 3,857,033 | 36.29% | 98.21 | 5.50% | 6.45% | 17 | 338 | 5.8% | 5.8% | 74,486 | (83,770) | ||||||||||||||||||||||||||||||||||||
| 30yr 6.0 | 3,096,377 | 3,111,136 | 29.28% | 100.48 | 6.00% | 6.92% | 21 | 333 | 8.9% | 10.0% | 48,300 | (56,597) | ||||||||||||||||||||||||||||||||||||
| 30yr 6.5 | 1,168,103 | 1,195,018 | 11.25% | 102.30 | 6.50% | 7.39% | 24 | 330 | 14.0% | 16.2% | 15,278 | (18,457) | ||||||||||||||||||||||||||||||||||||
| 30yr 7.0 | 47,531 | 49,422 | 0.47% | 103.98 | 7.00% | 7.91% | 35 | 317 | 25.7% | 14.4% | 634 | (748) | ||||||||||||||||||||||||||||||||||||
| Total Pass-Through RMBS | 10,802,282 | 10,615,692 | 99.89% | 98.27 | 5.55% | 6.48% | 22 | 333 | 7.4% | 8.0% | 195,044 | (220,355) | ||||||||||||||||||||||||||||||||||||
| Total Structured RMBS | 77,598 | 11,323 | 0.11% | 14.59 | 3.40% | 4.59% | 144 | 200 | 6.8% | 6.4% | (54) | 31 | ||||||||||||||||||||||||||||||||||||
| Total Mortgage Assets | $ | 10,879,880 | $ | 10,627,015 | 100.00% | 5.54% | 6.47% | 23 | 332 | 7.4% | 8.0% | $ | 194,990 | $ | (220,324) | |||||||||||||||||||||||||||||||||
| Hedge | Modeled Interest | ||||||||||||
| Notional | Period | Rate Sensitivity (1) | |||||||||||
| Hedge | Balance | End | (-50 BPS) | (+50 BPS) | |||||||||
| 3-Month SOFR Futures | $ | (390,000) | Mar-27 | $ | (1,121) | $ | 1,121 | ||||||
| 10-Year Treasury Future(2) | (1,281,000) | Aug-33 | (39,481) | 38,380 | |||||||||
| 10-Year Ultra Treasury Future(3) | (560,000) | May-36 | (23,405) | 22,383 | |||||||||
| ERIS SOFR Swap Futures | (10,000) | Dec-31 | (164) | 160 | |||||||||
| Swaps | (6,264,200) | Mar-32 | (144,078) | 139,095 | |||||||||
| Hedge Total | $ | (8,505,200) | $ | (208,249) | $ | 201,139 | |||||||
| Rate Shock Grand Total | $ | (13,259) | $ | (19,185) | |||||||||
(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) Ten-year Treasury futures contracts were valued at prices of $106.64 at October 31, 2026. The market value of the short position was $1,366.1 million.
(3) Ten-year Ultra Treasury futures contracts were valued at prices of $108.13 at October 31, 2026. The market value of the short position was $605.5 million.
| RMBS Assets by Agency | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of October 31, 2026 | ||||||||
| Fannie Mae | $ | 5,453,589 | 51.3% | |||||
| Freddie Mac | 5,173,426 | 48.7% | ||||||
| Total Mortgage Assets | $ | 10,627,015 | 100.0% | |||||
| Investment Company Act of 1940 Whole Pool Test | ||||||||
| ($ in thousands) | ||||||||
| Percentage | ||||||||
| Fair | of | |||||||
| Asset Category | Value | Portfolio | ||||||
| As of October 31, 2026 | ||||||||
| Non-Whole Pool Assets | $ | 522,891 | 4.9% | |||||
| Whole Pool Assets | 10,104,124 | 95.1% | ||||||
| Total Mortgage Assets | $ | 10,627,015 | 100.0% | |||||
| Borrowings By Counterparty | |||||||||||||||||
| ($ in thousands) | |||||||||||||||||
| Weighted | Weighted | ||||||||||||||||
| % of | Average | Average | |||||||||||||||
| Total | Total | Repo | Maturity | Longest | |||||||||||||
| As of October 31, 2026 | Borrowings | Debt | Rate | in Days | Maturity | ||||||||||||
| Hidden Road Partners Civ US LLC | $ | 455,496 | 4.6% | 4.03% | 16 | 11/16/2026 | |||||||||||
| Citigroup Global Markets Inc | 454,270 | 4.6% | 4.04% | 25 | 11/30/2026 | ||||||||||||
| J.P. Morgan Securities LLC | 443,493 | 4.5% | 4.08% | 19 | 11/23/2026 | ||||||||||||
| Marex Capital Markets Inc. | 440,600 | 4.4% | 4.04% | 30 | 11/30/2026 | ||||||||||||
| ABN AMRO Bank N.V. | 438,730 | 4.4% | 4.06% | 19 | 11/19/2026 | ||||||||||||
| ASL Capital Markets Inc. | 435,272 | 4.4% | 4.03% | 21 | 11/23/2026 | ||||||||||||
| StoneX Financial Inc. | 435,106 | 4.4% | 4.05% | 23 | 11/23/2026 | ||||||||||||
| South Street Securities, LLC | 424,771 | 4.3% | 4.12% | 161 | 9/3/2027 | ||||||||||||
| The Bank of Nova Scotia | 419,199 | 4.2% | 4.03% | 28 | 11/30/2026 | ||||||||||||
| Cantor Fitzgerald & Co | 393,968 | 4.0% | 4.07% | 15 | 11/16/2026 | ||||||||||||
| DV Securities, LLC Repo | 384,727 | 3.9% | 4.04% | 10 | 11/16/2026 | ||||||||||||
| Clear Street LLC | 381,364 | 3.8% | 4.06% | 19 | 11/19/2026 | ||||||||||||
| Daiwa Securities America Inc. | 373,490 | 3.8% | 4.05% | 21 | 11/23/2026 | ||||||||||||
| Wells Fargo Securities, LLC | 367,948 | 3.7% | 4.05% | 27 | 11/27/2026 | ||||||||||||
| Goldman, Sachs & Co | 367,506 | 3.7% | 4.05% | 16 | 11/16/2026 | ||||||||||||
| Brean Capital, LLC | 339,436 | 3.4% | 4.07% | 20 | 11/25/2026 | ||||||||||||
| ING Financial Markets LLC | 334,991 | 3.4% | 4.05% | 40 | 12/10/2026 | ||||||||||||
| RBC Capital Markets, LLC | 325,273 | 3.3% | 4.08% | 10 | 11/25/2026 | ||||||||||||
| TD Securities (USA) LLC | 310,428 | 3.1% | 4.04% | 30 | 11/30/2026 | ||||||||||||
| Morgan Stanley & Co. LLC | 290,123 | 2.9% | 4.03% | 37 | 12/10/2026 | ||||||||||||
| Mirae Asset Securities (USA) Inc. | 273,297 | 2.8% | 4.04% | 23 | 11/23/2026 | ||||||||||||
| Merrill Lynch, Pierce, Fenner & Smith | 246,985 | 2.5% | 4.06% | 25 | 11/27/2026 | ||||||||||||
| Mitsubishi UFJ Securities (USA), Inc. | 223,007 | 2.3% | 4.06% | 17 | 11/18/2026 | ||||||||||||
| Mesirow Financial, Inc. | 218,275 | 2.2% | 4.04% | 40 | 12/10/2026 | ||||||||||||
| MUFG Securities Canada, Ltd. | 197,292 | 2.0% | 4.05% | 13 | 11/13/2026 | ||||||||||||
| Nomura Securities International, Inc. | 196,684 | 2.0% | 4.04% | 13 | 11/13/2026 | ||||||||||||
| Natixis, New York Branch | 174,515 | 1.8% | 4.03% | 30 | 11/30/2026 | ||||||||||||
| Bank of Montreal | 169,366 | 1.7% | 4.05% | 23 | 11/23/2026 | ||||||||||||
| Mizuho Securities USA LLC | 169,083 | 1.7% | 4.04% | 20 | 11/20/2026 | ||||||||||||
| BNP Paribas Securities Corp. | 150,098 | 1.5% | 4.05% | 25 | 11/25/2026 | ||||||||||||
| Lucid Prime Fund, LLC | 28,451 | 0.3% | 4.04% | 12 | 11/12/2026 | ||||||||||||
| Banco Santander SA | 23,012 | 0.2% | 4.12% | 13 | 11/13/2026 | ||||||||||||
| Canyon Partners, LLC | 21,702 | 0.2% | 3.98% | 13 | 11/13/2026 | ||||||||||||
| Total Borrowings | $ | 9,907,958 | 100.0% | 4.05% | 28 | 9/3/2027 | |||||||||||
CONTACT: Contact: Orchid Island Capital, Inc. Robert E. Cauley 3305 Flamingo Drive, Vero Beach, Florida 32963 Telephone: (772) 231-1400
