Rural Cellular misses dividend for 11 3/8% senior preferreds, 12¼% junior preferreds

By Angela McDaniels

Seattle, Jan. 20 - Rural Cellular Corp. said its board of directors has not declared the quarterly dividends on its 11 3/8% senior exchangeable preferred stock and the 12¼% junior exchangeable preferred stock that would have been payable in cash on Nov. 15 and Feb. 15, respectively.

The company failed to pay dividends on the 11 3/8% preferreds for the quarters ended Nov. 15, 2004, Feb. 14, 2005, May 15, 2005 and Aug. 15, 2005. The overdue dividends were then paid in October.

Rural Cellular is a wireless communication services provider based in Alexandria, Minn.

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