Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when ORC files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsOrchid Island Capital declares $0.10/share August dividend, discloses $11.3B RMBS portfolio
Filed August 12, 2026 · Period ending August 12, 2026 · ~1 min read
Key Changes
-
high
Board declared $0.10/share monthly dividend for August 2026, payable September 29 to shareholders of record August 31. Company maintains regular monthly distribution to common stockholders.
Item 8.01 verify on EDGAR → -
medium
RMBS portfolio totaled $11.26B fair value ($11.37B face) at July 31, with 5.52% weighted average coupon and 336-month weighted average maturity. Portfolio is 99.9% traditional pass-through securities.
Exhibit 99.1 view on EDGAR → -
high
Company carried $10.90B in repo borrowings at 3.79% weighted average rate with 23-day average maturity, plus $9.98B notional in interest rate hedges including swaps, futures, swaptions, and TBA shorts.
Exhibit 99.1 view on EDGAR → -
high
Combined portfolio and hedge position shows asymmetric rate sensitivity: +$14.3M gain in -50bp shock versus -$48.6M loss in +50bp shock, indicating greater downside exposure to rising rates.
Exhibit 99.1 view on EDGAR → -
low
Outstanding share count declined from 199.6M shares at June 30 and July 31 to 198.8M shares at August 12, a reduction of approximately 796,000 shares.
Exhibit 99.1 view on EDGAR →
Summary
Orchid Island Capital announced its regular monthly dividend of $0.10 per share for August 2026 and provided detailed disclosure of its July 31, 2026 RMBS portfolio positioning. The $11.26 billion portfolio consists almost entirely of traditional agency pass-through securities with a 5.52% weighted average coupon, financed with $10.90 billion in short-term repo borrowings at 3.79%.
The company maintains nearly $10 billion notional in interest rate hedges to manage duration risk. The disclosed rate sensitivity metrics warrant attention: the combined portfolio and hedge book would lose approximately $48.6 million in a 50 basis point rate increase but gain only $14.3 million in an equivalent rate decline.
This 3.4-to-1 asymmetry indicates the hedge structure provides incomplete protection against rising rates, a material consideration for an mREIT operating with 9.7x leverage (implied by the $10.9B borrowings against equity). Investors should monitor how this positioning performs if the Fed's rate path shifts, particularly given the 23-day average maturity on the repo book requiring frequent refinancing. The monthly dividend continues, but the rate sensitivity profile suggests earnings volatility if rates move materially higher.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Orchid Island Capital declared a $0.10/share August 2026 dividend payable September 29, 2026 and disclosed July 31, 2026 RMBS portfolio details.
Added in current filing · verify on EDGAR →
the Company announced certain details of its RMBS portfolio as of July 31, 2026, as well as certain other information regarding the Company
The company disclosed details of its residential mortgage-backed securities (RMBS) portfolio as of July 31, 2026. The specific portfolio metrics are contained in the attached press release (Exhibit 99.1), which provides investors with updated information on the company's investment holdings and positioning.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Aug 13, 2026 · How we verify