December 2017 Monthly Dividend of $0.14 Per Share
RMBS Portfolio Characteristics as of November 30, 2017VERO BEACH, Fla., Dec. 13, 2017 — Orchid Island Capital, Inc. (the “Company”) (NYSE:ORC) announced today that the Board of Directors declared a monthly cash dividend for the month of December 2017. The dividend of $0.14 per share will be paid January 10, 2018, to holders of record on December 29, 2017, with an ex-dividend date of December 28, 2017. The Company intends to make regular monthly cash distributions to its stockholders. In order to qualify as a real estate investment trust (“REIT”), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.As of December 13, 2017, the Company had 51,571,065 shares outstanding. At September 30, 2017, the Company had 45,308,169 shares outstanding. RMBS Portfolio CharacteristicsDetails of the RMBS portfolio as of November 30, 2017 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate:RMBS Valuation CharacteristicsRMBS Assets by AgencyInvestment Company Act of 1940 (Whole Pool) Test ResultsRepurchase Agreement Exposure by CounterpartyRMBS Risk MeasuresAbout Orchid Island Capital, Inc.Orchid Island Capital, Inc. is a specialty finance company that invests in Agency RMBS that are either traditional pass-through Agency RMBS or structured Agency RMBS. Orchid Island Capital, Inc. has elected to be taxed as a REIT for federal income tax purposes. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company’s distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Form 10-K for the year ended December 31, 2016.
(1) Amounts in the tables above exclude assets with a fair value of approximately $119.0 million sold in November 2017, which settle in December 2017.(1) In November 2017, the Company sold assets with a fair value of approximately $119.0 million which settle in December 2017 that collateralize approximately $115.9 million of repurchase agreements included in the table above. Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant LIBOR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially. Treasury futures contracts were valued at a price of $124.05 at November 30, 2017. The notional contract value of the short position was $173.7 million.Contact:Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400
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