Ontrak Declares Dividend on 9.50% Non-Convertible Series A Preferred Stock

Rhea-AI Summary

Ontrak, Inc. (NASDAQ: OTRK) announced the declaration of its first quarterly cash dividend for the 9.50% Series A Cumulative Perpetual Preferred Stock. This dividend amounts to $0.6333333 per share, payable on November 30, 2020, to shareholders of record by November 15, 2020. The Series A Preferred Stock, which has a liquidation preference of $25.00 per share, will benefit investors seeking income. Ontrak aims to enhance health outcomes through its AI-driven PRE™ platform, addressing chronic conditions with a focus on behavioral health.

Positive

• First quarterly cash dividend of $0.6333333 per share.
• Dividend reflects a strong yield of 9.50%, benefiting shareholders.

Negative

• None.

SANTA MONICA, Calif.--(BUSINESS WIRE)--Ontrak, Inc. (NASDAQ: OTRK) (“Ontrak” or the “Company”), today announced that its Board of Directors has declared the first quarterly cash dividend for the Company’s 9.50% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock“).

The first quarterly cash dividend equals $0.6333333 per share, representing more than a full quarter as it covers the period from, and including, the first date the Company issued the Series A Preferred Shares, at 9.50% per annum of liquidation preference of $25.00 per share. The Series A Preferred Stock dividend will be payable on November 30, 2020 to holders of record as of the close of business on November 15, 2020.

The Series A Preferred Stock trades on NASDAQ Global Market under the symbol “OTRKP.”

For additional information, visit https://www.ontrak-inc.com

About Ontrak, Inc.

Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and telehealth enabled, virtualized healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. The company’s PRE™ (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who are not getting the care they need. By combining predictive analytics with human engagement, Ontrak delivers improved member health and validated outcomes and savings to healthcare payers.

The company’s integrated, technology-enabled Ontrak™ programs, a critical component of the PRE platform, are designed to provide healthcare solutions to members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure, which result in high medical costs.

Ontrak has a unique ability to engage these members, who do not otherwise seek behavioral healthcare, leveraging proprietary enrollment capabilities built on deep insights into the drivers of care avoidance.

Ontrak integrates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaching and in-market Community Care Coordinators who address the social and environmental determinants of health, including loneliness. The company’s programs improve member health and deliver validated cost savings to healthcare payers of more than 50 percent for enrolled members. Ontrak solutions are available to members of leading national and regional health plans in 30 states and in Washington, D.C.

Learn more at www.ontrak-inc.com