Mitcham Industries Declares Cash Dividend on its 9.00% Series A Cumulative Preferred Stock

Rhea-AI Summary

Mitcham Industries has declared a cash dividend of $0.5625 per share on its 9.00% Series A Cumulative Preferred Stock for Q2 of the fiscal year ending January 31, 2021. This dividend applies to the period from May 1, 2020 to July 31, 2020, and is payable on July 31, 2020 to stockholders of record by July 15, 2020. The Series A Preferred Stock trades under the ticker symbol MINDP on Nasdaq.

Positive

• Quarterly cash dividend of $0.5625 per share enhances income for preferred shareholders.
• Dividend payment demonstrates company confidence in financial stability.

Negative

• None.

THE WOODLANDS, Texas, July 6, 2020 /PRNewswire/ -- Mitcham Industries, Inc. ("Mitcham" or the "Company") (Nasdaq: MIND) announced today that it has declared a quarterly cash dividend on its 9.00% Series A Cumulative Preferred Stock ("Series A Preferred Stock") for the second quarter of its fiscal year ending January 31, 2021.

In accordance with the terms of the 9.00% Series A Preferred Stock of the Company, the Board of Directors has declared a Series A Preferred Stock cash dividend of $0.5625 per share for the quarterly period that began on May 1, 2020 and ends on July 31, 2020. The dividend on the Series A Preferred Stock is payable on July 31, 2020 to holders of record at the close of business on July 15, 2020.  The Series A Preferred Stock is currently listed on the Nasdaq and trades under the ticker symbol "MINDP".

About Mitcham Industries

Mitcham Industries, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries.  Headquartered in The Woodlands, Texas, Mitcham has a global presence with operating locations in the United States, Canada, Singapore, Malaysia, Hungary, Colombia and the United Kingdom.  Mitcham's worldwide Marine Technology Products segment, which includes its Seamap and Klein Marine Systems units, designs, manufactures and sells specialized, high performance, marine sonar and seismic equipment. 

Contacts:	Rob Capps, Co-CEO
	Mitcham Industries, Inc.
	936-291-2277
	Ken Dennard / Zach Vaughan
	Dennard Lascar Investor Relations
	713-529-6600
	MIND@dennardlascar.com

 

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SOURCE Mitcham Industries, Inc.

FAQ

When is the cash dividend for Mitcham Industries' Series A Preferred Stock due?

The cash dividend is due on July 31, 2020.

What is the dividend amount declared for the Series A Preferred Stock?

The declared dividend amount is $0.5625 per share.

What is the payment date for the dividend on Mitcham Industries' Series A Preferred Stock?

The payment date for the dividend is July 31, 2020.

What is the record date for the dividend of Mitcham Industries' Series A Preferred Stock?

The record date is July 15, 2020.

What ticker symbol is used for Mitcham Industries' Series A Preferred Stock?

The ticker symbol for the Series A Preferred Stock is MINDP.