ALEXANDRIA, Minn.-Rural Cellular Corp. said quarterly dividends on its 11.375-percent senior exchangeable preferred stock and 12.25-percent junior exchangeable preferred stock will be paid May 15 to holders of record May 1.
The company noted the senior preferred stock dividend would be paid in shares of senior exchangeable preferred stock at a rate of 2.84 shares per 100 shares owned. The junior preferred stock is scheduled to be paid in shares of junior exchangeable preferred stock at a rate of 3.09 shares per 100 shares held.
