Atlanticus Announces Approval of Quarterly Preferred Stock Dividend

Rhea-AI Summary

Atlanticus Holdings (NASDAQ: ATLC) announced that its Board of Directors has approved a quarterly cash dividend of $0.476563 per share for Series B Cumulative Perpetual Preferred shareholders.

The dividend will be distributed on or around June 15, 2024, to shareholders on record as of June 1, 2024. Atlanticus is a financial technology company focusing on inclusive financial services for banks, retail, and healthcare partners in the U.S.

Positive

• Quarterly dividend of $0.476563 per share approved for Series B Cumulative Perpetual Preferred shareholders.
• Dividend payment date set for June 15, 2024.
• Record date for dividend eligibility is June 1, 2024.

Negative

• No information provided on common stock dividends, which might be a concern for common shareholders.
• Preferred dividends may indicate a higher cost of capital.

ATLANTA, May 14, 2024 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” the “Company,” “we” or “our”), a financial technology company that enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced that its Board of Directors approved a quarterly dividend of $0.476563 per share to Series B Cumulative Perpetual Preferred shareholders. The cash dividend will be paid on or about June 15, 2024 to holders of record of Atlanticus’ Series B Cumulative Perpetual Preferred Stock on the close of business on June 1, 2024.

About Atlanticus Holdings Corporation

Empowering Better Financial Outcomes for Everyday Americans

Atlanticus^TM technology enables bank, retail, and healthcare partners to offer more inclusive financial services to everyday Americans through the use of proprietary analytics. We apply the experience gained and infrastructure built from servicing over 20 million customers and over $39 billion in consumer loans over more than 25 years of operating history to support lenders that originate a range of consumer loan products. These products include retail and healthcare private label credit and general purpose credit cards marketed through our omnichannel platform, including retail point-of-sale, healthcare point-of-care, direct mail solicitation, internet-based marketing, and partnerships with third parties. Additionally, through our Auto Finance subsidiary, Atlanticus serves the individual needs of automotive dealers and automotive non-prime financial organizations with multiple financing and service programs.

Forward-Looking Statements

This press release contains forward-looking statements that reflect the Company's current views with respect to the payment of dividends in the future. You generally can identify these statements by the use of words such as “outlook,” “potential,” “continue,” “may,” “seek,” “approximately,” “predict,” “believe,” “expect,” “plan,” “intend,” “estimate” or “anticipate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These risks and uncertainties include those risks described in the Company's filings with the Securities and Exchange Commission and include, but are not limited to, risks related to COVID-19 and its impact on the Company, bank partners, merchant partners, consumers, loan demand, the capital markets, labor availability, supply chains and the economy in general; the Company's ability to retain existing, and attract new, merchant partners and funding sources; changes in market interest rates; increases in loan delinquencies; its ability to operate successfully in a highly regulated industry; the outcome of litigation and regulatory matters; the effect of management changes; cyberattacks and security vulnerabilities in its products and services; and the Company's ability to compete successfully in highly competitive markets. The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, the Company disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

Contact:
Investor Relations
(770) 828-2000
investors@atlanticus.com

FAQ

What dividend has Atlanticus Holdings announced for Series B Preferred shareholders?

Atlanticus Holdings announced a quarterly dividend of $0.476563 per share for Series B Cumulative Perpetual Preferred shareholders.

When will Atlanticus Holdings pay the announced dividend?

Atlanticus Holdings will pay the dividend on or around June 15, 2024.

What is the record date for Atlanticus Holdings' dividend eligibility?

The record date for dividend eligibility is June 1, 2024.

What is the dividend amount for Atlanticus Holdings' Series B Cumulative Perpetual Preferred Stock?

The dividend amount is $0.476563 per share.

What does Atlanticus Holdings specialize in?

Atlanticus Holdings is a financial technology company providing inclusive financial services through partnerships with banks, retail, and healthcare providers.