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Published on 10/21/2003 in the Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

Rural Cellular to miss dividend on 11 3/8% senior preferreds

New York, Oct. 21 - Rural Cellular Corp. said its board of directors have not declared the quarterly dividend on its 11 3/8% senior exchangeable preferred stock that would have been payable in cash on Nov. 15.

The quarterly dividend on the Alexandria, Minn. wireless communication company's 12¼% junior exchangeable preferred stock will be paid in kind at the rate of 3.0625 shares of junior preferreds per 100 shares on Nov. 15. Fractional shares will be paid in cash.


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