Orchid Island Decreases Cash Dividend Due To COVID Outbreak

Yesterday on January 13, the Board of Orchid Island, Inc. announced a monthly cash dividend of $0.055 per share. This will be distributed on February 24 to the stockholder that was earlier on the account on January 31, 2022. The decrease in the cash dividend per month is due to the Company’s fast decrease in personnel in its net undivided margin, which has occurred primarily due to the impact of the COVID-19 outbreak. The Company’s interest-only and pass-through securities continued to trade at raised rates.

Orchid Island

Orchid Island plans to distribute cash give-outs per month with regularity changes to its stockholders. Generally, it should distribute at least 90% of its REIT taxable earnings in order to be considered a real estate investment trust. Due to the Company’s obligation to tax laws, it may be subject to income tax when it distributes taxable income. As a result, the Company is subject to both income tax and excise tax when it distributes taxable income. It is not yet clear if the company will be able to sustain its distributions in the future.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

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