MTBC Declares Dividends on Non-Convertible Series A Cumulative Redeemable Perpetual Preferred Stock
May 15 2017 - 8:30AM
Marketwired
MTBC Declares Dividends on Non-Convertible Series A Cumulative
Redeemable Perpetual Preferred Stock
SOMERSET, NJ-(Marketwired - May 15, 2017) - MTBC (NASDAQ: MTBC)
(NASDAQ: MTBCP), a leading provider of proprietary cloud-based
electronic health records, practice management and mHealth
solutions, today announced that its Board of Directors has declared
monthly cash dividends for its 11% Series A Cumulative Redeemable
Perpetual Preferred Stock ("Series A Preferred Stock") for June,
July and August 2017. This represents 21 consecutive months of
dividends declared since the Series A Preferred Stock was initially
sold in November 2015.
Holders of shares of the Series A Preferred Stock are entitled
to receive cumulative cash dividends at the rate of 11% per annum
of the $25.00 per share liquidation preference (equivalent to $2.75
per annum per share). Dividends on the Series A Preferred Stock are
payable monthly on the 15th day of each month; provided that if any
dividend payment date is not a business day, then the dividend may
be paid on the next succeeding business day. Dividends are payable
to holders of record on the applicable record date, which shall be
the last day of the calendar month, whether or not a business
day.
MTBC's Series A Preferred Stock trades on the NASDAQ Capital
Market under the ticker symbol "MTBCP."
The following table shows the monthly dividends and associated
record and payment dates:
|
|
June 2017
|
|
July 2017
|
|
August 2017
|
Dividend per share
|
|
$0.22917
|
|
$0.22917
|
|
$0.22917
|
Ex-dividend date
|
|
June 28, 2017
|
|
July 27, 2017
|
|
Aug. 29, 2017
|
Record date
|
|
June 30, 2017
|
|
July 31, 2017
|
|
Aug. 31, 2017
|
Payment date
|
|
July 17, 2017
|
|
Aug. 15, 2017
|
|
Sept. 15, 2017
|
About MTBC
Medical Transcription Billing, Corp. is a healthcare information
technology company that provides a fully integrated suite of
proprietary web-based solutions, together with related business
services, to healthcare providers throughout the United States. Our
integrated Software-as-a-Service (or SaaS) platform helps our
customers increase revenues, streamline workflows and make better
business and clinical decisions, while reducing administrative
burdens and operating costs. MTBC's common stock trades on the
NASDAQ Capital Market under the ticker symbol "MTBC," and its
Series A Preferred Stock trades on the NASDAQ Capital Market under
the ticker symbol "MTBCP."
For additional information, please visit our website at
www.MTBC.com.
Follow MTBC on TWITTER, LINKEDIN and FACEBOOK.
SOURCE MTBC
Disclaimer
This press release is for information purposes only, and does
not constitute an offer to sell or solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
Contact Information
- Company Contact: Bill Korn Chief Financial Officer Medical
Transcription Billing, Corp. bkorn@mtbc.com (732) 873-5133
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