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

Rhea-AI Summary

Ontrak, Inc. (NASDAQ: OTRK, OTRKP) has declared its third quarterly cash dividend of $0.593750 per share for the 9.50% Series A Cumulative Perpetual Preferred Stock. This dividend, amounting to 9.50% of the $25.00 liquidation preference, is payable on May 30, 2021, to shareholders on record as of May 15, 2021. Ontrak aims to improve healthcare outcomes through its innovative PRE™ platform, engaging members with chronic diseases and delivering significant cost savings for healthcare payers.

Positive

• Quarterly dividend declared at $0.593750 per share.
• 9.50% yield on Series A Preferred Stock, indicating strong returns for investors.

Negative

• None.

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

The third quarterly cash dividend equals $0.593750 per share, at 9.50% per annum of liquidation preference of $25.00 per share. The Series A Preferred Stock dividend will be payable on May 30, 2021 to holders of record as of the close of business on May 15, 2021, provided that if any dividend payment date is not a business day, then the dividend that would otherwise have been payable may be paid on the next succeeding business day and no interest, additional dividends or other sums will accrue on the amount so payable for the period from and after the dividend payment date to that next succeeding business day.

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 between 40 and 50 percent of enrolled members.

Learn more at www.ontrak-inc.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005346/en/

FAQ

What is the dividend amount for Ontrak's Series A Preferred Stock?

The dividend amount is $0.593750 per share.

When is the dividend payable for Ontrak's Series A Preferred Stock?

The dividend is payable on May 30, 2021.

What is the symbol for Ontrak's Series A Preferred Stock?

The symbol is OTRKP.

Who are the shareholders eligible for the dividend?

Shareholders on record as of May 15, 2021, are eligible.

What is Ontrak, Inc.'s focus in healthcare?

Ontrak focuses on improving health outcomes through its AI and telehealth-enabled solutions.