OKLAHOMA CITY, Dec. 18, 2002 (PRIMEZONE) -- Dobson Communications Corporation (OTCBB:DCEL) today declared an in-kind 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 January 16, 2003 to holders of record at the close of business on January 1, 2003.
Holders of shares of 12 1/4% Senior Exchangeable Preferred Stock will receive 0.03165 additional shares of 12 1/4% Senior Exchangeable Preferred Stock for each share held on the record date. The dividend covers the period October 15, 2002 through January 15, 2003. The dividends have an annual rate of 12 1/4% on the $1,000 per share liquidation preference value of the preferred stock. Future dividend payments on the 12 1/4% Senior Exchangeable Preferred Stock are required to be paid in cash.
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.