Dobson defers preferred dividends

New York, March 24 - Dobson Communications Corp. said it will not pay the quarterly dividend due April 15 on its 12¼% exchangeable preferred stock, the May 1 quarterly dividend on its 13% senior exchangeable preferred stock or the April 15 semi-annual dividend on its series F convertible preferred stock.

The unpaid dividends will continue to accrue.

The Oklahoma City-based wireless phone company said the deferral is the second for the series F convertible preferreds. Effective April 16 holders will have the right to elect two new directors to Dobson's board.

The deferral is the third on the other two series of preferreds. These holders will have the right to elect two directors for each class of preferred after the fourth deferral.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.