OKLAHOMA CITY, March 31, 2004 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared an in-kind dividend on its outstanding 13% Senior Exchangeable Preferred Stock. The dividend will be payable on May 1, 2004 to holders of record at the close of business on April 15, 2004. The CUSIP for the 13% Senior Exchangeable Preferred Stock is 256 072 50 5.
Holders of shares of 13% Senior Exchangeable Preferred Stock will receive 0.03250 additional shares of 13% Senior Exchangeable Preferred Stock for each share held on the record date. The dividend covers the period February 1, 2004 through April 30, 2004. 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 wireless operations in 16 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.