Orchid Island Capital declared an October cash dividend of $0.10 per share, unchanged from the monthly rate announced for the current period, and said it expects to pay it on November 27 to shareholders of record on October 30.
The company said it had 192,992,160 shares outstanding as of October 14, down from 194,661,864 at September 30 and down from 199,603,438 at June 30. That means the share count fell by 1,669,704 from the end of September and by 6,611,278 from the end of the second quarter.
For the quarter ended September 30, Orchid Island estimated a book value per share of $6.02. Based on 194,661,864 shares outstanding, the company said preliminary total stockholders’ equity was about $1.2 billion.
The company estimated a net loss of $0.90 per share for the third quarter, including $1.17 per share of net realized and unrealized losses on residential mortgage-backed securities and derivative instruments. It also said total dividends declared during the quarter were $0.30 per share, meaning the loss per share exceeded quarterly dividends by $1.20 per share in book value decline terms.
Book value per share fell from June 30 to September 30 by $1.20, and Orchid Island said that, combined with the $0.30 in dividends, produced an estimated total return on equity of negative 12.5% for the quarter. On a per-share basis, the company said total return was negative $0.90.
The company also said its next dividend announcement is expected on November 10. The market has reacted to these announcements by moving the company's shares 0.2% to a price of $5.06. If you want to know more, read the company's complete 8-K report here.
