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SOMERSET, N.J., April 05, 2016 -- MTBC (Nasdaq:MTBC), a leading provider of proprietary, web-based electronic health records, practice management and mHealth solutions, announced today 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 May 2016.
Holders of shares of the Series A Preferred Stock are entitled to receive cumulative cash dividends at the rate of 11% of the $25.00 per share liquidation preference per annum (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 that 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, including March and April dividends which were previously announced:
| March 2016 | April 2016 | May 2016 | |||||||
| Dividend per share | $ | 0.22917 | $ | 0.22917 | $ | 0.22917 | |||
| Ex-dividend date | Mar. 29, 2016 | Apr. 27, 2016* | May 26, 2016 | ||||||
| Record date | Mar. 31, 2016 | Apr. 30, 2016 | May 31, 2016 | ||||||
| Payment date | Apr. 15, 2016 | May 16, 2016 | June 15, 2016 | ||||||
*This corrects the ex-dividend date previously reported as April 28, 2016 in a press released dated March 24, 2016.
About Medical Transcription Billing, Corp.
Medical Transcription Billing, Corp. (“MTBC”) 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 practicing in ambulatory care settings. 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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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.
Investor Contacts: PCG Advisory Group Christine J. Petraglia Managing Director [email protected] 646-731-9817 Media: PCG Advisory Group Sean Leous Chief Communications Officer [email protected] 646-863-8998 Company Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. [email protected] 732-873-5133
