Orchid Island Capital, Inc. (NYSE:ORC) Files An 8-K Results of Operations and Financial ConditionITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On April 12, 2018, Orchid Island Capital, Inc. (the "Company") announced its preliminary book value of $8.09 per share as of March 31, 2018, certain details of its RMBS portfolio as of March 31, 2018, and preliminary net loss of $0.31 per share and preliminary realized and unrealized losses of $0.72 per share for the quarter ended March 31, 2018. These figures and the estimated net book value per share are preliminary, subject to change, and subject to review by the Company's independent registered public accounting firm. A copy of the Company's press release announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
ITEM 8.01. OTHER EVENTS.
On April 12, 2018, the Company announced that the Board of Directors of the Company declared a dividend for the month of April 2018 of $0.09 per share to be paid on May 10, 2018 to holders of record on April 30, 2018, with an ex-dividend date of April 27, 2018. A copy of the Company's press release announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
Caution About Forward-Looking Statements.
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including but not limited to statements about the Company's distributions and the expected funding of purchases assets and anticipated borrowings. These forward-looking statements are based upon the Company's present expectations, but the Company cannot assure investors that actual results will not vary from the expectations contained in the forward-looking statements. 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, 2017. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
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Exhibit No. |
Description |
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99.1 |
Press Release dated April 12, 2018 |
Orchid Island Capital, Inc. ExhibitEX-99.1 2 orc8k20180412x991.htm EXHIBIT 99.1 EXHIBIT 99.1 ORCHID ISLAND CAPITAL ANNOUNCES APRIL 2018 MONTHLY DIVIDEND AND MARCH 31,…To view the full exhibit click here
About Orchid Island Capital, Inc. (NYSE:ORC)
Orchid Island Capital, Inc. (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions. Its portfolio consists of two categories of Agency RMBS: traditional pass-through Agency RMBS and structured Agency RMBS. Its pass-through securities are the securities secured by residential real property in which payments of both interest and principal on the securities are generally made monthly. The mortgage loans underlying pass-through certificates include fixed-rate mortgages, adjustable-rate mortgages (ARMs) and Hybrid ARMs. Its structured Agency RMBS consists of collateralized mortgage obligations, interest only securities, inverse interest only securities and principal only securities, among other types of structured Agency RMBS.
