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Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred StockTUSTIN, Calif., Dec. 04, 2019 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that its Board of Directors has declared a quarterly cash dividend payment on the Company's 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock"). The quarterly dividend on the Series E Preferred Stock is payable on January 2, 2020 to holders of record at the close of business on December 16, 2019. The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidatio preference, accruing from October 1, 2019 through December 31, 2019. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "CDMOP". About Avid Bioservices, Inc. Contacts: Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 [email protected] Tim Brons (Media) Vida Strategic Partners 415-675-7402 [email protected] |