SAExploration Announces Information Regarding Dividends on Its Series A Preferred Stock
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, March 20, 2018 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ:SAEX, OTCQB:SXPLW) today announced that its Board of Directors declared on March 13, 2018 its intention to pay on April 1, 2018, to record holders on March 15, 2018 of its 8% Cumulative Perpetual Series A Preferred Stock, par value $0.0001 (the “Series A Preferred Stock”), in-kind dividends of 0.01378 of a share of Series A Preferred Stock for every one outstanding share of Series A Preferred Stock. At this time it is anticipated that a total of 456 shares of Series A Preferred Stock will be issued, which includes one share for any fractional share owned by each holder of Series A Preferred Stock on the record date. In addition, in accordance with the terms of the Certificate of Designation for the Series A Preferred Stock, SAE expects that, for the dividend period starting April 1, 2018 and ending June 30, 2018, it will be obligated to pay in-kind any dividends declared by the Board of Directors on th
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