Tranche Update on Orchid Island Capital, Inc.'s Equity Buyback Plan announced on July 30, 2015.
February 01, 2024 at 04:48 pm EST
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From October 1, 2023 to December 31, 2023, the company has repurchased 699,748 shares, representing 1.34% for $5.47 million. With this, the company has completed the repurchase of 9,296,770 shares, representing 79.17% for $74.33 million under the buyback announced on July 30, 2015.
Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities RMBS. The Company's investment portfolio consists of two categories of Agency RMBS: traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations (CMOs) issued by the government-sponsored enterprise (GSEs), and structured Agency RMBS, such as interest only securities (IOs), inverse interest only securities and principal only securities (POs), among other types of structured Agency RMBS. The Company's business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions. The Company intends to achieve this objective by investing in and strategically allocating capital between pass-through Agency RMBS and structured Agency RMBS. The Company is externally managed by Bimini Advisors, LLC.
ORCHID ISLAND CAPITAL, INC. 
