Exela Technologies Announces Dividend on Series B Preferred Stock

Rhea-AI Summary

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a dividend of $0.46 per share for its 6.00% Series B Cumulative Perpetual Convertible Preferred Stock. This dividend applies to the quarter ending June 30, 2022 and includes the first 20 days of issuance in March 2022. It is payable in cash on June 30, 2022, to shareholders on record as of June 20, 2022.

Positive

• Dividend of $0.46 per share enhances shareholder value.
• Strong issuance of Series B Preferred Stock indicates financial confidence.

Negative

• None.

IRVING, Texas, June 10, 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 $0.46 per share of Series B Preferred Stock for the quarter ending June 30, 2022 and inclusive of the 20 days in March 2022 when the Series B Preferred Stock was first issued.  This dividend is payable in cash on June 30, 2022, to Series B Preferred stockholders of record as of June 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 Series B Preferred Stock?

Exela Technologies declared a dividend of $0.46 per share for its Series B Preferred Stock.

When is the dividend for Exela Technologies' Series B Preferred Stock payable?

The dividend is payable on June 30, 2022.

What is the record date for Exela Technologies' Series B Preferred Stock dividend?

The record date for the dividend is June 20, 2022.

How often does Exela Technologies pay dividends on its preferred stocks?

Exela Technologies pays dividends quarterly on its preferred stocks.

What is the significance of the dividend for shareholders of Exela Technologies?

The dividend reflects Exela Technologies' commitment to enhancing shareholder value.