Exela Technologies Announces Dividend on Series B Preferred Stock

Rhea-AI Summary

Exela Technologies (NASDAQ: XELA, XELAP) announced a quarterly dividend of $0.375 per share on its 6.00% Series B Cumulative Perpetual Convertible Preferred Stock. This payment will be made in cash on September 30, 2022, to stockholders of record as of September 20, 2022. With over 17,000 employees and a client base of more than 4,000 across 50 countries, Exela continues to leverage its digital transformation solutions in various industries, including finance and healthcare.

Positive

• Declared a quarterly dividend of $0.375 per share, providing income for shareholders.
• Continues to serve a growing client base of over 4,000 across 50 countries.

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• None.

IRVING, Texas, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), today announced that its Board of Directors has declared the payment of a dividend on the Company's outstanding 6.00% Series B Cumulative Perpetual Convertible Preferred Stock (“Series B Preferred Stock”).

In accordance with the terms of the Series B Preferred Stock, the Board of Directors declared a dividend of $0.375 per share of Series B Preferred Stock for the quarter ending September 30, 2022.  This dividend is payable in cash on September 30, 2022, to Series B Preferred stockholders of record as of September 20, 2022. 

About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune^® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

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The information posted on the Company's website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website and its social media accounts in addition to the Company's press releases, SEC filings and public conference calls and webcasts.

Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com

FAQ

What is the dividend amount declared by Exela Technologies for September 2022?

Exela Technologies declared a dividend of $0.375 per share for the quarter ending September 30, 2022.

When will Exela Technologies pay the dividend?

The dividend will be paid in cash on September 30, 2022.

Who are eligible shareholders for Exela's dividend in September 2022?

Shareholders of record as of September 20, 2022, are eligible for the dividend.

What is the significance of the Series B Preferred Stock for Exela Technologies?

The Series B Cumulative Perpetual Convertible Preferred Stock offers a fixed dividend, providing a steady income for investors.

What are the stock symbols for Exela Technologies?

Exela Technologies trades under the symbols XELA, XELAW, and XELAP.