OKLAHOMA CITY, Dec. 27, 2002 (PRIMEZONE) -- Dobson Communications Corporation (OTCBB:DCEL) today declared an in-kind dividend on its outstanding 13% Senior Exchangeable Preferred Stock (CUSIP 256072 50 5). The dividend will be payable on February 1, 2003 to holders of record at the close of business on January 15, 2003.
Holders of shares of 13% Senior Exchangeable Preferred Stock will receive 0.03322 additional shares of 13% Senior Exchangeable Preferred Stock for each share held on the record date. The dividend covers the period November 1, 2002 through January 31, 2003. The dividends have an annual rate of 13% on the $1,000 per share liquidation preference value of the preferred stock.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns or manages wireless operations in 17 states. Dobson has expanded rapidly in recent years through internal growth and by acquisition. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.