Dobson buys back $24.29 million of preferreds under new program

New York, Aug. 9 - Dobson Communications Corp. said it bought back $24.29 million liquidation preference of its 12¼% and 13% senior exchangeable preferred stock under a new authorization from its board of directors.

The Oklahoma City-based wireless phone company paid $17.4 million for the securities.

The buybacks were carried out under a $50 million program authorized by Dobson's board of directors on June 15, according to a 10-Q filed with the Securities and Exchange Commission.

During the six months to June 30, Dobson bought back $14.82 million of its 12¼% preferreds and $3.48 million of its 13% preferreds for a total of $12.8 million.

As of June 30, it had $46.18 million of the 12¼% preferreds and $198.90 million of the 13% preferreds outstanding.

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