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MTBCP - CareCloud Inc News Story

$29.14 0.2  0.7%

Sector
Healthcare
Size
Small Cap
Market Cap £86.0m
Enterprise Value £71.2m
Revenue £76.0m
Position in Universe th / 6847

MTBC Declares Dividends on Non-Convertible Series A Cumulative Redeemable Perpetual Preferred Stock

Fri 26th February, 2021 2:20pm
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SOMERSET, N.J., Feb. 26, 2021 (GLOBE NEWSWIRE) -- MTBC, Inc.
(https://www.globenewswire.com/Tracker?data=Lwahun8tz6QCQlSuIq1n-yUaPMKze2px6Lc9P4fCWP7ZdFcK16tH_OeUf7VGMlG3jfAtrY2wKJ8tF-MMj13wTA==)
(the “Company” or “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 March, April and May 2021. This represents 67
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:

                       March 2021        April 2021        May 2021       
                                                                          
 Dividend per share    $0.22917          $0.22917          $0.22917       
                                                                          
 Ex-dividend date      March 30, 2021    April 29, 2021    May 27, 2021   
                                                                          
 Record date           March 31, 2021    April 30, 2021    May 31, 2021   
                                                                          
 Payment date          April 15, 2021    May 17, 2021      June 15, 2021  

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 15(th)
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

MTBC'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 MTBC

MTBC is a healthcare information technology company that provides a full suite
of proprietary cloud-based solutions, together with related business services,
to healthcare providers and hospitals throughout the United States. Our
Software-as-a-Service (or SaaS) platform includes revenue cycle management
(RCM), practice management (PM), electronic health record (EHR), telehealth
and patient experience management (PXM) solutions for high-performance medical
groups. MTBC helps clients increase financial and operational performance,
streamline clinical workflows and make better business and clinical decisions,
allowing them to improve patient care while reducing administrative burdens
and operating costs. MTBC’s common stock trades on the Nasdaq Global Market
under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on
the Nasdaq Global Market under the ticker symbol “MTBCP.”

For additional information, please visit our website at www.MTBC.com.

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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 federal securities laws. 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 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, 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 MTBC

Company Contact:
Bill Korn
Chief Financial Officer
MTBC, Inc.
bkorn@mtbc.com

Investor Contact:
Matt Kreps, Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com 
(214) 597-8200



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GlobeNewswire, Inc. 2021
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