MTBC Declares Dividends on Non-Convertible Series A Cumulative Redeemable Perpetual Preferred Stock
Somerset, N.J., November 7, 2017 (GLOBE NEWSWIRE) – MTBC (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 2017, January 2018 and February 2018. This represents 27 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:
| Dec. 2017 | Jan. 2018 | Feb. 2018 | ||||||||||
| Dividend per share | $ | 0.22917 | $ | 0.22917 | $ | 0.22917 | ||||||
| Ex-dividend date | Dec. 28, 2017 | Jan. 30, 2018 | Feb. 27, 2018 | |||||||||
| Record date | Dec. 31, 2017 | Jan. 31, 2018 | Feb. 28, 2018 | |||||||||
| Payment date | Jan. 16, 2018 | Feb. 15, 2018 | Mar. 15, 2018 | |||||||||
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.
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SOURCE MTBC
| Company Contact: | |
| Bill Korn | |
| Chief Financial Officer | |
| Medical Transcription Billing, Corp. | |
| bkorn@mtbc.com | |
| (732) 873-5133 |
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.