Carecloud announces suspension of its dividends on non-convertible series a and series b cumulative redeemable perpetual preferred stock

Somerset, n.j., dec. 11, 2023 (globe newswire) -- carecloud, inc.  (the “company”) (nasdaq: ccld, ccldp, ccldo), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that its board of directors has suspended its monthly cash dividends for its 11% series a cumulative redeemable perpetual preferred stock ("series a preferred stock") and its 8.75% series b cumulative redeemable perpetual preferred stock ("series b preferred stock") beginning with the payment scheduled for december 15, 2023. the suspension of these dividends will defer approximately $1.3 million in cash dividend payments each month. during this suspension, dividends will continue to accrue on the series a and series b preferred stock. the board of directors will regularly review and consider when the suspension should be lifted.
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