OKLAHOMA CITY, Sept. 29, 2003 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared a cash dividend on its outstanding 6% Series F Convertible Preferred Stock. The dividend will be payable on October 15, 2003 to holders of record at the close of business on October 1, 2003. CUSIP for the Series F Convertible Preferred Stock is 256 069 70 9.
Holders of shares of 6% Series F Convertible Preferred Stock will receive a cash payment of $9.50 per share held on the record date. The cash dividend covers the period August 19, 2003 through October 14, 2003. The dividends have an annual rate of 6% on the $1,000 per share liquidation preference value of the preferred stock. Future dividends may be paid, at the Company's option, in cash or in kind. If paid in kind, the dividend rate is 7%.
The Series F Preferred Stock's public registration on Form S-3 was declared effective September 17, 2003.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 16 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.