No material catalyst. The $0.10 dividend is in line with the prior monthly rate. The slight share count increase suggests modest ATM issuance to fund portfolio growth. Monitor the next dividend announcement on June 9 for any change to the payout rate, which would signal a shift in earnings or capital allocation.
Price Chart
Executive Summary
Orchid Island Capital declared a May 2026 monthly dividend of $0.10 per share, unchanged from prior months, and provided an intra-quarter RMBS portfolio update as of April 30, 2026. The portfolio totaled $11.58 billion in mortgage assets with $10.93 billion in repurchase agreement borrowings, resulting in a levered position. Share count increased to 200.7 million from 196.7 million at March 31, 2026, reflecting modest equity issuance. This is a routine monthly dividend and portfolio disclosure with no material financial surprises.
Key Facts
- May 2026 monthly dividend declared at $0.10 per share, payable June 29, 2026 to holders of record May 29, 2026.
- Total mortgage assets of $11.58 billion as of April 30, 2026, consisting of $11.57 billion pass-through RMBS and $12.3 million structured RMBS.
- Total borrowings of $10.93 billion across 29 counterparties at a weighted average repo rate of 3.79% and weighted average maturity of 38 days.
- Share count increased to 200,700,226 from 196,700,226 at March 31, 2026, a 2.0% increase.
- Portfolio net interest rate sensitivity: -$159,000 for a -50bps parallel shift and -$45.1 million for a +50bps shift.
- 1-month CPR of 12.7% and 3-month CPR of 14.8% on the total pass-through portfolio.
- Next dividend announcement expected June 9, 2026.
Financial Impact
Dividend unchanged at $0.10/share; portfolio size and leverage consistent with prior periods; share count increased ~2% from March quarter-end.
Risk Factors
- Interest rate sensitivity: a +50bps parallel shift would reduce portfolio value by ~$45 million on a modeled basis.
- Short-dated repo funding (38-day weighted average maturity) exposes the company to refinancing risk and spread widening.
- Elevated CPR of 14.8% (3-month) on the pass-through portfolio could accelerate prepayment losses on premium-priced securities.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-016792 |
| Document: orc20260511_8k.htm | 0001437749-26-016792 |
| Document: 0001437749-26-016792-index-headers.html | 0001437749-26-016792 |
| Document: 0001437749-26-016792-index.html | 0001437749-26-016792 |
| Document: 0001437749-26-016792.txt | 0001437749-26-016792 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 8-K | $4.80 | awaiting T+20 | — | $5.03 (−4.90%) |
Oct 22, 2026 3d ago | Press Release | $4.66 | awaiting T+20 | — | $5.03 (−8.05%) |
Oct 14, 2026 11d ago | 8-K | $5.18 | awaiting T+20 | — | $5.03 (+2.80%) |
Oct 14, 2026 11d ago | Press Release | $5.18 | awaiting T+20 | — | $5.03 (+2.80%) |
Aug 12, 2026 10w ago | 8-K | $6.63 $6.33 | ▼ −4.52% | ▼ −2.78% | $5.03 (−24.06%) |
Jul 23, 2026 13w ago | Press Release | $6.54 $6.70 | ▲ +2.45% | ▼ −1.18% | $5.03 (−23.01%) |
Jun 22, 2026 17w ago | 8-K | $6.77 $6.71 | ▼ −0.89% | ▼ −2.05% | $5.03 (−25.63%) |
May 13, 2026 23w ago | 8-K | $6.82 $6.52 | ▼ −4.40% | ▼ −3.55% | $5.03 (−26.18%) |
Apr 27, 2026 26w ago | DEFA14A | $7.05 $6.85 | ▼ −2.81% | ▼ −7.77% | $5.03 (−28.56%) |
Apr 23, 2026 26w ago | Press Release | $6.95 $6.83 | ▲ +1.72% | ▲ +5.75% | $5.03 (+27.55%) |
US Market Status
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