The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. Some of these factors are described under the caption ''Risk Factors'' in our Annual Report on Form 10-K. If a change occurs, ...

Dividends and Returns - The Company declared a monthly cash dividend of $0.12 per share for January 2025, payable on February 27, 2025[2]. - Total dividends declared during the quarter were $0.36 per share, resulting in an estimated total return on equity of 0.6%[7]. - The estimated total return on equity for the quarter was $0.05 per share, comprised of dividends per share of $0.36 and a decrease in book value per share of $0.31[7]. - The next dividend announcement is expected on February 12, 2025[8]. - The Company must distribute at least 90% of its REIT taxable income annually to qualify as a REIT[3]. Financial Position - As of December 31, 2024, the estimated book value per share was $8.09, with total stockholders' equity approximately $668.5 million[5]. - The Company had 84,613,638 shares of common stock outstanding as of January 8, 2025, an increase from 82,622,464 shares as of December 31, 2024[4]. Income and Gains - Estimated net income per share for the quarter ended December 31, 2024, was $0.07, including $0.02 per share of net realized and unrealized gains on RMBS and derivative instruments[6]. Mortgage Assets - Total mortgage assets as of December 31, 2024, amounted to $5,303,052,000, with a fair value portfolio of $5,287,554,000[14]. - Fannie Mae assets represented 70.6% of the total mortgage assets, totaling $3,742,774,000, while Freddie Mac assets accounted for 29.4%, totaling $1,560,278,000[14]. - Whole pool assets comprised 96.2% of the total mortgage assets, valued at $5,099,706,000, while non-whole pool assets were $203,346,000, representing 3.8%[15]. - The total pass-through MBS portfolio had a fair value of $5,287,554,000, with a weighted average age of 326 months[12]. - The 30-year 3.0% fixed-rate MBS represented 17.83% of the portfolio, with a fair value of $945,375,000[12]. - The weighted average coupon for the 30-year fixed-rate mortgage-backed securities (MBS) was 5.03%, with a current price of 96.44[12]. Borrowings and Counterparties - Total borrowings as of December 31, 2024, amount to $5,025,543,000, with an average interest rate of 4.66%[16]. - The largest counterparty is Merrill Lynch, with borrowings of $360,113,000, representing 7.2% of total borrowings[16]. - The second-largest counterparty is ABN AMRO Bank N.V., with borrowings of $335,584,000, accounting for 6.7% of total borrowings[16]. - The third-largest counterparty is RBC Capital Markets, with borrowings of $267,565,000, which is 5.3% of total borrowings[16]. - The borrowings from Cantor Fitzgerald & Co total $254,445,000, making up 5.1% of total borrowings[16]. - The borrowings from DV Securities, LLC Repo amount to $251,638,000, representing 5.0% of total borrowings[16]. - The borrowings from MUFG Securities Canada, Ltd. total $248,084,000, accounting for 4.9% of total borrowings[16]. - The borrowings from Mitsubishi UFJ Securities (USA), Inc. are $244,546,000, which is also 4.9% of total borrowings[16]. - The average maturity of borrowings is 26 days, with the longest maturity extending to May 19, 2025[16]. - The weighted average repo rate across all borrowings is 4.66%[16]. Market Sensitivity - The company reported a modeled interest rate sensitivity of $105,810,000 for a -50 basis points shock and $(115,842,000) for a +50 basis points shock[12]. - The market value of the short position for five-year Treasury futures contracts was $332.2 million as of December 31, 2024[13]. - The market value of the short position for ten-year Treasury futures contracts was $101.7 million as of December 31, 2024[13]. - The market value of the short position for ten-year Ultra futures contracts was $93.5 million as of December 31, 2024[13]. Management - The Company is managed by Bimini Advisors, LLC, focusing on investments in Agency RMBS[9]. Forward-Looking Statements - Forward-looking statements indicate that future distributions are not guaranteed and depend on various factors[10].

Core Viewpoint - Orchid Island Capital, Inc. reported its financial results for the fourth quarter and full year of 2024, highlighting a positive return despite challenging market conditions in the Agency RMBS sector [5][6][7]. Fourth Quarter 2024 Results - The company achieved a net income of $5.6 million, or $0.07 per common share, compared to $27.1 million for the same period in 2023 [9]. - Net interest income for the quarter was $8.1 million, with total expenses of $4.4 million [6]. - The total return for the fourth quarter was 0.60%, consisting of $0.36 in dividends and a $0.31 decrease in book value per share [6][10]. - The average Agency RMBS portfolio increased from $5.0 billion in Q3 2024 to $5.3 billion in Q4 2024 [9]. Full-Year 2024 Results - For the full year, net income was $37.8 million, or $0.57 per common share, a significant recovery from a net loss of $39.2 million in 2023 [11]. - Interest income for the year was approximately $241.6 million, with a yield on the average Agency RMBS of 5.25% [11]. - The total return for 2024 was 4.73%, compared to (8.63)% in 2023 [7]. Other Financial Highlights - The book value per common share was $8.09 as of December 31, 2024, reflecting a decrease of $1.01 for the year [12][34]. - The company maintained a strong liquidity position with $353.6 million in cash and cash equivalents, representing 53% of stockholder's equity [6][19]. - The adjusted leverage ratio was 7.5:1, with outstanding repurchase obligations of approximately $5,025.5 million [19]. Management Commentary - The CEO noted a shift in the fixed income market outlook, with inflation remaining above the Federal Reserve's target and a pro-growth agenda following the Republican party's national election success [5]. - The company adopted a bar-bell strategy in its Agency RMBS portfolio, focusing on higher coupon holdings while maintaining significant lower coupon securities [8]. Prepayments - For Q4 2024, the company received $185.0 million in principal repayments and prepayments, resulting in a 3-month constant prepayment rate (CPR) of approximately 10.5% [13]. Portfolio Characteristics - As of December 31, 2024, the total fair value of the mortgage assets was $5.25 billion, with fixed-rate RMBS making up 99.7% of the portfolio [15][16]. - The weighted average coupon for the fixed-rate RMBS was 5.03%, with an average maturity of 330 months [15]. Stock Offerings and Repurchase Program - The company issued 19,842,089 shares under an equity distribution agreement for gross proceeds of approximately $164.9 million through December 31, 2024 [42]. - Since the inception of the stock repurchase program, the company repurchased a total of 5,144,602 shares at an aggregate cost of approximately $77.5 million [44].

Group 1 - David A. Johnson is the founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company, with over 30 years of investment experience [1] - David invests in a diverse range of assets including stocks, bonds, options, ETFs, REITs, real estate, closed-end funds, hedge funds, and private credit [1] - He holds a Master of Science (MS) Degree in Finance with a concentration in Investment Analysis from Boston University, a Certificate in Financial Planning, and an MBA from Fordham University [1]

Core Viewpoint - Orchid Island Capital, Inc. will release its fourth quarter 2024 results on January 30, 2025, after market close [1] Earnings Conference Call Details - An earnings conference call will take place on January 31, 2025, at 10:00 AM ET, with registration available online [2] - A live audio webcast of the conference call can be accessed through the company's investor relations website [3] Company Overview - Orchid Island Capital, Inc. is a specialty finance company that invests in Agency RMBS on a leveraged basis, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [4]

Core Points - Orchid Island Capital, Inc. declared a monthly cash dividend of $0.12 per share for January 2025, payable on February 27, 2025, to shareholders of record as of January 31, 2025, with an ex-dividend date of January 31, 2025 [1] - The company aims to make regular monthly cash distributions to its common stockholders and must distribute at least 90% of its REIT taxable income annually to qualify as a real estate investment trust (REIT) [2] - As of January 8, 2025, the company had 84,613,638 shares of common stock outstanding, an increase from 82,622,464 shares as of December 31, 2024 [3] Financial Metrics - The estimated book value per share as of December 31, 2024, was $8.09, calculated by dividing total stockholders' equity of approximately $668.5 million by the total number of outstanding shares [4] - The estimated net income per share for the quarter ended December 31, 2024, was $0.07, which includes an estimated $0.02 per share of net realized and unrealized gains on RMBS and derivative instruments [5] - The estimated total return on equity for the quarter ended December 31, 2024, was 0.6%, calculated as the sum of dividends declared and changes in book value divided by the stockholders' equity at the beginning of the quarter [6] RMBS Portfolio - The company invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [7] - As of December 31, 2024, the total mortgage assets amounted to $5,303,052 thousand, with Fannie Mae accounting for 70.6% and Freddie Mac for 29.4% of the portfolio [15][16] - The company has a significant amount of borrowings, totaling $5,025,543 thousand, with a weighted average interest rate of 4.66% [17]

Dividend Announcement - The company declared a monthly cash dividend of $0.12 per share for January 2025, payable on February 27, 2025, to shareholders of record as of January 31, 2025 [1] - The next common stock dividend announcement is planned for February 12, 2025 [1] - The company intends to make regular monthly cash distributions to common stockholders, as required to maintain REIT status [2] Share and Equity Information - As of January 8, 2025, the company had 84,613,638 shares of common stock outstanding, up from 82,622,464 on December 31, 2024, and 78,082,645 on September 30, 2024 [3] - Estimated book value per share was $8.09 as of December 31, 2024, based on preliminary total stockholders' equity of approximately $668.5 million [4] Financial Performance - Estimated net income per share was $0.07 for Q4 2024, including $0.02 per share from net realized and unrealized gains on RMBS and derivative instruments [5] - Total return on equity for Q4 2024 was estimated at 0.6%, consisting of $0.36 per share in dividends and a $0.31 decrease in book value per share [6] RMBS Portfolio - The company's RMBS portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS, managed by Bimini Advisors, LLC [7] - As of December 31, 2024, the RMBS portfolio was valued at $5,303,052,000, with 70.6% in Fannie Mae and 29.4% in Freddie Mac assets [14] - The portfolio included $5,099,706,000 in Whole Pool Assets (96.2%) and $203,346,000 in Non-Whole Pool Assets (3.8%) [16] Hedging and Borrowings - The company maintained significant hedging positions, including $3,516,800,000 in swaps and $312,500,000 in 5-Year Treasury Futures [12] - Total borrowings as of December 31, 2024, were $5,025,543,000, with a weighted average repo rate of 4.66% and weighted average maturity of 26 days [16]

Group 1 - The article does not provide specific insights or analysis on any companies or industries, focusing instead on disclosures and disclaimers [1][2][3]

Core Viewpoint - Orca Energy Group Inc. reported a decrease in revenue for Q3 2024 and the nine months ended September 30, 2024, primarily due to changes in gas supply agreements and external factors affecting gas demand [2][3]. Financial Performance - Revenue decreased by 9% for Q3 2024 and by 13% for the nine months ended September 30, 2024, compared to the same periods in the prior year, totaling $24.8 million for Q3 2024 and $74.7 million for the nine months [2][5]. - Net income attributable to shareholders increased by 715% for Q3 2024 but decreased by 43% for the nine months ended September 30, 2024, primarily due to decreased revenue and higher foreign exchange losses [3][5]. - Net cash flows from operating activities decreased by 32% for Q3 2024 and by 46% for the nine months ended September 30, 2024, reflecting the impact of reduced revenue [3][5]. Gas Production and Sales - Daily average gas delivered and sold was 75.9 MMcfd for Q3 2024, an 8% decrease compared to the prior year, and 70.9 MMcfd for the nine months, a 19% decrease [5]. - Gas deliveries to the power sector decreased by 15% for Q3 2024 and by 24% for the nine months, attributed to increased hydropower generation from the Julius Nyerere Hydropower Project [2][5]. Operational Challenges - The termination of the Protected Gas supply after July 31, 2024, led to unrecognized revenues, including $3.6 million from Songas and $1.0 million from TPCPLC [2][3]. - The Interim Power Purchase Agreement between TANESCO and Songas expired on October 31, 2024, raising concerns about the potential indefinite shutdown of the Songas Power Plant, which would adversely affect gas demand [2][3]. Capital Expenditures and Investments - Capital expenditures increased by 219% for Q3 2024 and by 111% for the nine months ended September 30, 2024, primarily due to the SS-7 well workover program [3][5]. - The total expected cost for the SS-7 workover program increased to $23.5 million due to equipment failures and logistical delays [3][5]. Working Capital and Financial Position - As of September 30, 2024, the company had $67.1 million in working capital and $101.7 million in cash and cash equivalents, with a decrease in long-term debt to $25.1 million [3][5][6]. - The current receivable from TANESCO was $8.1 million, with a long-term receivable of $22.0 million, indicating ongoing financial engagements with the Tanzanian electricity supplier [3][5].

Core Viewpoint - Orca Energy Group Inc. provides an operational update highlighting challenges related to the expiration of the Interim Power Purchase Agreement with Songas Limited, which may lead to an indefinite shutdown of the Songas Power Plant and impact gas production from the Songo Songo gas field [2][3][12] Production and Operations - The annual average production guidance for Additional Gas is now forecasted to be between 65 - 68 million cubic feet per day (MMcfd), excluding volumes previously expected to be supplied to Songas [3] - Following the cessation of Protected Gas on July 31, 2024, Songas continued to lift gas volumes at an average rate of 17.8 MMcfd in August and September, but payment issues arose due to the Tanzania Petroleum Development Corporation's (TPDC) refusal to approve a Gas Sales Agreement [4][5] - The workover program on well SS-7 is ongoing, with expectations to restore production by November 2024, although project costs have increased to $22 million due to logistical and weather delays [7] Commercial Developments - The company issued a Notice of Dispute against the Government of Tanzania regarding breaches of investment agreements and contractual disputes, with initial meetings held but no resolution reached [8] - PAET has continued to supply gas to Tanzania Portland Cement PLC, but invoicing issues have arisen due to TPDC's refusal to approve the Supplementary Gas Agreement, leading to outstanding invoices totaling $5.39 million [9] Financial Overview - As of September 30, 2024, the company reported cash and cash equivalents of $101.7 million, an increase from $97.2 million as of June 30, 2024, with no change in long-term debt [10] - The receivable from TANESCO was reported at $8.1 million, with a long-term receivable of $22 million as of the same date [10]