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

Rhea-AI Summary

Ontrak, Inc. (NASDAQ: OTRK, OTRKP) has declared a quarterly cash dividend of $0.593750 per share for its 9.50% Series A Cumulative Perpetual Preferred Stock. This dividend will be payable on February 28, 2021 to shareholders on record as of February 15, 2021. Ontrak's innovative PRE™ platform enhances chronic disease management through predictive analytics and effective care pathways, aiming to improve member health and reduce healthcare costs by over 50% for enrolled members.

Positive

• Quarterly cash dividend of $0.593750 per share enhances shareholder value.
• Potential cost savings exceeding 50% for healthcare payers enhance company attractiveness.

Negative

• None.

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

The second 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 February 28, 2021 to holders of record as of the close of business on February 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 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005462/en/

FAQ

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

The dividend amount is $0.593750 per share.

When is Ontrak's dividend payable?

The dividend will be payable on February 28, 2021.

What is the record date for the dividend payment?

The record date is February 15, 2021.

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

The yield is 9.50% per annum based on a liquidation preference of $25.00 per share.

How does Ontrak's PRE™ platform impact healthcare costs?

The platform aims to reduce healthcare costs by over 50% for enrolled members.