Orchid Island Capital Inc (ORC) to Issue Monthly Dividend of $0.14 on May 10th
Orchid Island Capital Inc (NYSE:ORC) announced a monthly dividend on Thursday, April 13th. Shareholders of record on Friday, April 28th will be paid a dividend of 0.14 per share by the real estate investment trust on Wednesday, May 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.60%. The ex-dividend date of this dividend is Wednesday, April 26th.
Orchid Island Capital has increased its dividend by an average of 3.4% per year over the last three years.
Shares of Orchid Island Capital (NYSE:ORC) opened at 10.77 on Friday. Orchid Island Capital has a 12 month low of $9.23 and a 12 month high of $12.60. The stock has a market capitalization of $355.02 million, a P/E ratio of 131.34 and a beta of 0.65. The firm has a 50 day moving average of $9.98 and a 200-day moving average of $10.72.
In other Orchid Island Capital news, CEO Robert E. Cauley bought 7,500 shares of the stock in a transaction on Monday, February 27th. The stock was purchased at an average price of $9.66 per share, for a total transaction of $72,450.00. Following the completion of the purchase, the chief executive officer now directly owns 27,931 shares in the company, valued at $269,813.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ava L. Parker sold 11,477 shares of the business’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $9.93, for a total transaction of $113,966.61. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $19,860. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 117,500 shares of company stock valued at $1,108,600. 0.75% of the stock is owned by insiders.
Separately, Maxim Group lowered shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 17th.
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Orchid Island Capital Company Profile
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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