CareCloud, Inc. (the “Company”) (Nasdaq: MTBC) (Nasdaq:
MTBCP), a leading provider of proprietary, cloud-based healthcare
IT solutions and services, 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 December 2021, January and February 2022.
This represents 76 consecutive months of dividends declared since
the Series A Preferred Stock was initially sold in November 2015.
The following table shows the monthly dividends
and associated record and payment dates:
|
|
Dec. 2021 |
|
Jan. 2022 |
|
Feb. 2022 |
Dividend per share |
|
$ |
0.22917 |
|
|
$ |
0.22917 |
|
|
$ |
0.22917 |
|
Ex-dividend date |
|
|
Dec.30, 2021 |
|
|
|
Jan. 28, 2022 |
|
|
|
Feb. 25, 2022 |
|
Record date |
|
|
Dec. 31, 2021 |
|
|
|
Jan. 31, 2022 |
|
|
|
Feb. 28, 2022 |
|
Payment date |
|
|
Jan. 18, 2022 |
|
|
|
Feb. 15, 2022 |
|
|
|
Mar. 15, 2022 |
|
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 cumulative and 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.
About
MTBCP
CareCloud's Series A Preferred Stock trades on
the NASDAQ Global Market under the ticker symbol "MTBCP." The
Company may, at its option, upon not less than 30 nor more than 60
days’ written notice, redeem the Series A Preferred Stock, in whole
or in part, at any time or from time to time, for cash at a
redemption price of $25.00 per share, plus any accumulated and
unpaid dividends thereon to, but not including, the date fixed for
redemption.
About CareCloud
CareCloud (Nasdaq: MTBC) (Nasdaq: MTBCP) brings
disciplined innovation to the business of healthcare. Our suite of
technology-enabled solutions helps clients increase financial and
operational performance, streamline clinical workflows and improve
the patient experience. More than 40,000 providers count on
CareCloud to help them improve patient care while reducing
administrative burdens and operating costs. Learn more about our
products and services including revenue cycle management (RCM),
practice management (PM), electronic health records (EHR), business
intelligence, telehealth and patient experience management (PXM) at
www.carecloud.com.
For additional information, please visit our
website at www.carecloud.com.
Follow CareCloud on LinkedIn, Twitter and Facebook.
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.
Forward Looking Statements
This press release contains various
forward-looking statements within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements relate to anticipated future events, future
results of operations or future financial performance. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “might,” “will,” “should,” “intends,” “expects,”
“plans,” “goals,” “projects,” “anticipates,” “believes,”
“estimates,” “predicts,” “potential,” or “continue” or the negative
of these terms or other comparable terminology.
Our operations involve risks and uncertainties,
many of which are outside our control, and any one of which, or a
combination of which, could materially affect our results of
operations and whether the forward-looking statements ultimately
prove to be correct. Forward-looking statements in this press
release include, without limitation, statements reflecting
management's expectations for future financial performance and
operating expenditures, expected growth, profitability and business
outlook, the impact of the Covid-19 pandemic on our financial
performance and business activities, and the expected results from
the integration of our acquisitions.
These forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are only predictions, are uncertain and involve substantial
known and unknown risks, uncertainties and other factors which may
cause our (or our industry’s) actual results, levels of activity or
performance to be materially different from any future results,
levels of activity or performance expressed or implied by these
forward-looking statements. New risks and uncertainties emerge from
time to time, and it is not possible for us to predict all of the
risks and uncertainties that could have an impact on the
forward-looking statements, including without limitation, risks and
uncertainties relating to the Company’s ability to manage growth,
migrate newly acquired customers and retain new and existing
customers, maintain cost-effective global operations, increase
operational efficiency and reduce operating costs, predict and
properly adjust to changes in reimbursement and other industry
regulations and trends, retain the services of key personnel,
develop new technologies, upgrade and adapt legacy and acquired
technologies to work with evolving industry standards, compete with
other companies products and services competitive with ours, and
other important risks and uncertainties referenced and discussed
under the heading titled “Risk Factors” in the Company’s filings
with the Securities and Exchange Commission. In addition, there is
uncertainty about the spread of the Covid-19 virus and the impact
it may have on the Company’s operations, the demand for the
Company’s services, and economic activity in general.
The statements in this press release are made as
of the date of this press release, even if subsequently made
available by the Company on its website or otherwise. The Company
does not assume any obligations to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made.
SOURCE CareCloud
Company Contact:Bill KornChief Financial
OfficerCareCloudbkorn@carecloud.com
Investor Contact:Matt KrepsManaging
DirectorDarrow Associates Investor Relationsmkreps@darrowir.com
Media Inquiries:Kaitlyn ModeCorporate
Communications ManagerCareCloudkmode@carecloud.com
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