Rural Cellular again misses dividend on 11 3/8% senior preferreds

New York, Jan. 16 - Rural Cellular Corp. said its board of directors has not declared the quarterly dividend on its 11 3/8% senior exchangeable preferred stock that would have been payable in cash on Feb. 15.

Rural Cellular has missed the dividend in several recent quarters.

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 Feb. 15. Fractional shares will be paid in cash.

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