Orchid Island Capital, Inc. (NYSE: ORC) revealed its estimated book value of $9.10 per share as of December 31, 2023, along with specific details of its RMBS (residential mortgage-backed securities) portfolio as of the same date. The company also disclosed an estimated GAAP net loss per share of $0.52 for the quarter ended December 31, 2023, which includes an estimated $0.65 per share of net realized and unrealized losses on RMBS and derivative instruments. However, these figures are preliminary, subject to change, and are pending review by the company's independent registered public accounting firm.
In addition to the financial details, Orchid Island Capital announced that its board of directors declared a dividend of $0.12 per share of the company's common stock for the month of January 2024. This dividend is set to be paid on February 27, 2024, to the shareholders of record on January 31, 2024, with an ex-dividend date of January 30, 2024.
The company's management expressed confidence in the announced dividend and provided insights into the RMBS portfolio, stating, "We are pleased to declare a dividend of $0.12 per share for January. Despite the challenging market conditions, we remain focused on actively managing our portfolio to generate attractive risk-adjusted returns."
Regarding the market outlook, management commented, "We recognize the volatility in the market, particularly in the RMBS and derivative instruments space, and we are diligently working to navigate through these conditions while prioritizing the interests of our shareholders."
The full 8-K submission can be accessed here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $154,581 | $142,324 | $116,045 | $134,700 | $144,633 | $159,928 |
| Revenue Growth | n/a | -7.93% | -18.46% | 16.08% | 7.37% | 10.58% |
| Net Margins | -28% | 17% | 2% | -48% | -179% | -20% |
| Net Income (k) | -$44,387 | $24,265 | $2,128 | -$64,760 | -$258,453 | -$31,427 |
| Net Interest Expense (k) | $84,221 | $58,658 | $90,989 | $127,610 | $82,925 | -$19,177 |
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 |
