Emmis suspends dividend on 6.25% convertible preferreds

By Susanna Moon

Chicago, Dec. 12 - Emmis Communications Corp. said it would not declare the Jan. 15 quarterly dividend on its 6.25% series A cumulative convertible preferred stock.

Under the terms of the preferreds, unpaid dividends accrue at the rate of 6.25% per annum, compounded quarterly.

Payment of future dividends will be determined by the company's board of directors, according to a press release.

Emmis is an Indianapolis-based diversified media firm.

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