CareCloud Inc. Declares Preferred Stock Dividend Payments for March and April 2025
March 14, 2025 – CareCloud Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a prominent player in healthcare technology and generative AI solutions, has announced the declaration of monthly cash dividends for its 8.75% Series A and Series B Cumulative Redeemable Perpetual Preferred Stocks. This announcement comes as part of the company's commitment to delivering consistent financial returns to its investors.
1. Dividend Announcement Details
The Board of Directors has approved the cash dividends for both Series A and Series B Preferred Stocks for the upcoming months of March and April 2025. The specifics of the dividends are outlined in the following table:
| March 2025 | April 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| Series A dividend per share | $0.18229 | $0.18229 | ||||||
| Series A additional payment per share | $0.04688 | $0.04688 | ||||||
| Series B dividend per share | $0.18229 | $0.18229 | ||||||
| Ex-dividend date | March 31, 2025 | April 30, 2025 | ||||||
| Record date | March 31, 2025 | April 30, 2025 | ||||||
| Payment date | April 15, 2025 | May 15, 2025 |
Holders of the Series A Preferred Stock, as of the record date, will receive cumulative cash dividends at a rate of 8.75% per annum based on a liquidation preference of $25.00 per share, totaling $2.1875 per annum per share. Additionally, due to previous obligations, the Board has authorized an extra payment of $0.04688 per share, credited against the oldest dividend due.
It is important to note that previous holders of Series A Preferred Stock who converted their shares on March 6, 2025, will not be eligible for this dividend payment.
2. Series B Preferred Stock Details
Similarly, holders of the Series B Preferred Stock will receive the same cumulative cash dividends at an 8.75% annual rate based on the $25.00 per share liquidation preference. This consistent dividend payment underscores CareCloud's commitment to its investors and solidifies its financial standing in the market.
The dividends for both Series A and B Preferred Stocks are cumulative and payable monthly on the 15th of each month. If the payment date falls on a non-business day, the dividend will be disbursed on the next business day.
3. Strategic Moves and Stock Delisting
In light of the mandatory conversion of the Series A Preferred Stock into common stock, CareCloud has informed the Nasdaq Stock Market LLC of its intent to voluntarily delist the Series A Preferred Stock. This decision is a necessary step as the security no longer meets Nasdaq’s continued listing requirements.
Furthermore, the company retains the option to redeem additional shares of Series A Preferred Stock at any time, with a notice period of no less than 30 and no more than 60 days, at a redemption price of $25.00 per share plus any accumulated dividends.
4. Conclusion
CareCloud continues to demonstrate its dedication to providing value to its shareholders through regular dividend payments while strategically navigating its financial landscape. With over 40,000 providers relying on CareCloud's innovative solutions to enhance patient care and operational efficiency, the company's future looks promising as it integrates advanced technologies in healthcare.
Investors and stakeholders can look forward to the scheduled dividend payments in April and May, reflecting CareCloud's strong financial health and commitment to shareholder returns.
For more information on CareCloud's offerings and updates, please visit their official website.
