SOMERSET, N.J., Nov. 24, 2015 (GLOBE NEWSWIRE) -- 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 November 2015 through February 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 the dividend that 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 began trading November 4, 2015 on the NASDAQ Capital Market under the ticker symbol "MTBCP." The November 2015 dividend has been prorated based on the initial trading date.
The following table shows the monthly dividends and associated record and payment dates:
| November 2015 | December 2015 | January 2016 | February 2016 | |
| Dividend per share | $0.20625 | $0.22917 | $0.22917 | $0.22917 |
| Ex-dividend date | Nov. 25, 2015 | Dec. 29, 2015 | Jan. 27, 2016 | Feb. 25, 2016 |
| Record date | Nov. 30, 2015 | Dec. 31, 2015 | Jan. 31, 2016 | Feb. 29, 2016 |
| Payment date | Dec. 15, 2015 | Jan. 15, 2016 | Feb. 16, 2016 | March 15, 2016 |
About Medical Transcription Billing, Corp.
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 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. For additional information, please visit our website at www.mtbc.com.
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.
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