Mitcham Industries Declares Cash Dividend on its 9.00% Series A Cumulative Preferred Stock

HUNTSVILLE, Texas, July 14, 2016 /PRNewswire/ -- Mitcham Industries, Inc. ("Mitcham" or the "Company") (Nasdaq: MIND) announced today that it has declared a quarterly cash dividend on its 9.00% Series A Cumulative Preferred Stock ("Series A Preferred Stock") for the pro-rated second quarter of the fiscal year ending January 31, 2017.

In accordance with the terms of the 9.00% Series A Preferred Stock of the Company, the Board of Directors has declared a pro-rated Series A Preferred Stock cash dividend of $0.35625 per share for the quarterly period that began on June 3, 2016, and ended on July 31, 2016. The dividend on the Series A Preferred Stock is payable on August 1, 2016 to holders of record at the close of business on July 15, 2016.  The Series A Preferred Stock is currently listed on the Nasdaq and trades under the ticker symbol "MINDP".

About Mitcham Industries

Mitcham Industries, Inc. provides equipment to the geophysical, oceanographic and hydrographic industries.   Headquartered in Huntsville, Texas, Mitcham has a global presence with operating locations in Salem, New Hampshire; Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; Budapest, Hungary; Lima, Peru; Bogota, Colombia and the United Kingdom. Through its Leasing Segment, Mitcham believes it is the largest independent provider of exploration equipment to the seismic industry. Mitcham's worldwide Equipment Manufacturing and Sales Segment includes its Seamap business, which designs, manufactures and sells specialized seismic marine equipment and Klein Marine Systems, Inc. which develops and manufactures high performance side scan sonar systems.

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SOURCE Mitcham Industries, Inc.