Orchid Island Capital (ORC) Declares $0.18 Monthly Dividend; 16% Yield

Orchid Island Capital (NYSE: ORC) declared a monthly dividend of $0.18 per share, or $2.16 annualized.

The dividend will be payable on February 27, 2015, to stockholders of record on February 25, 2015, with an ex-dividend date of February 23, 2015.

The annual yield on the dividend is 16 percent.

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 certain percentages 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 February 10, 2015, the Company had 16,727,811 shares outstanding. At December 31, 2014, the Company had 16,702,604 shares outstanding.

For a dividend history and other dividend-related data on Orchid Island Capital (ORC) click here.

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