OKLAHOMA CITY, July 1, 2004 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared a cash dividend on its outstanding 13% Senior Exchangeable Preferred Stock. The dividend will be payable on August 1, 2004 to holders of record at the close of business on July 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 a cash payment of $33.22 per share held on the record date. The cash dividend covers the period May 1, 2004 through July 31, 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 or manages wireless operations in 16 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.