OKLAHOMA CITY, March 26, 2003 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared a cash dividend on its outstanding 12 1/4% Senior Exchangeable Preferred Stock (CUSIP 256072 30 7 and CUSIP 256069 30 3). The dividend will be payable on April 15, 2003 to holders of record at the close of business on April 1, 2003.
Holders of shares of 12 1/4% Senior Exchangeable Preferred Stock will receive a cash payment of $30.625 per share held on the record date. The cash dividend covers the period from January 15, 2003 through April 14, 2003. The dividends have an annual rate of 12 1/4% on the $1,000 per share liquidation preference value of the preferred stock. The dividends have an annual rate of 12 1/4% 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.