Psychemedics settles California wage lawsuit for $1.15M, resumes dividend of $0.05/share

PSYCHEMEDICS CORP

Binding MOU to settle class action over CA wage/hour laws for ~$1.15M; company denies liability.
One-time non-cash charge of $1.15M expected in Q4 2021; cash payment anticipated in H2 2022.
Declares cash dividend of $0.05 per share, payable Dec 30, 2021 to holders of record Dec 20, 2021.
Continues strategic alternatives review; retained JMP Securities, Mintz Levin, and MTS Health Partners.
No timetable set for strategic review; no assurance of transaction or outcome.

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