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Orchid Island Capital Announces Estimated Fourth Quarter 2024 Results January 2025 Monthly Dividend and December 31, 2024 RMBS Portfolio Characteristics
ORCOrchid Island Capital(ORC) GlobeNewswire·2025-01-08 21:25

Dividend Announcement - The company declared a monthly cash dividend of 0.12pershareforJanuary2025,payableonFebruary27,2025,toshareholdersofrecordasofJanuary31,2025[1]−ThenextcommonstockdividendannouncementisplannedforFebruary12,2025[1]−Thecompanyintendstomakeregularmonthlycashdistributionstocommonstockholders,asrequiredtomaintainREITstatus[2]ShareandEquityInformation−AsofJanuary8,2025,thecompanyhad84,613,638sharesofcommonstockoutstanding,upfrom82,622,464onDecember31,2024,and78,082,645onSeptember30,2024[3]−Estimatedbookvaluepersharewas0.12 per share for January 2025, payable on February 27, 2025, to shareholders of record as of January 31, 2025 [1] - The next common stock dividend announcement is planned for February 12, 2025 [1] - The company intends to make regular monthly cash distributions to common stockholders, as required to maintain REIT status [2] Share and Equity Information - As of January 8, 2025, the company had 84,613,638 shares of common stock outstanding, up from 82,622,464 on December 31, 2024, and 78,082,645 on September 30, 2024 [3] - Estimated book value per share was 8.09 as of December 31, 2024, based on preliminary total stockholders' equity of approximately 668.5million[4]FinancialPerformance−Estimatednetincomepersharewas668.5 million [4] Financial Performance - Estimated net income per share was 0.07 for Q4 2024, including 0.02persharefromnetrealizedandunrealizedgainsonRMBSandderivativeinstruments[5]−TotalreturnonequityforQ42024wasestimatedat0.60.02 per share from net realized and unrealized gains on RMBS and derivative instruments [5] - Total return on equity for Q4 2024 was estimated at 0.6%, consisting of 0.36 per share in dividends and a 0.31decreaseinbookvaluepershare[6]RMBSPortfolio−Thecompany′sRMBSportfolioconsistsoftraditionalpass−throughAgencyRMBSandstructuredAgencyRMBS,managedbyBiminiAdvisors,LLC[7]−AsofDecember31,2024,theRMBSportfoliowasvaluedat0.31 decrease in book value per share [6] RMBS Portfolio - The company's RMBS portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS, managed by Bimini Advisors, LLC [7] - As of December 31, 2024, the RMBS portfolio was valued at 5,303,052,000, with 70.6% in Fannie Mae and 29.4% in Freddie Mac assets [14] - The portfolio included 5,099,706,000inWholePoolAssets(96.25,099,706,000 in Whole Pool Assets (96.2%) and 203,346,000 in Non-Whole Pool Assets (3.8%) [16] Hedging and Borrowings - The company maintained significant hedging positions, including 3,516,800,000inswapsand3,516,800,000 in swaps and 312,500,000 in 5-Year Treasury Futures [12] - Total borrowings as of December 31, 2024, were $5,025,543,000, with a weighted average repo rate of 4.66% and weighted average maturity of 26 days [16]