Emmis suspends preferred dividend


Given the tough economy, broadcasters and others are looking for ways to conserve cash. Emmis Communications announced that it will not make the January 15, 2009 quarterly dividend payment on its 6.25% Series A Cumulative Convertible Preferred Stock in cash, but rather exercise its option to accrue the unpaid dividend at the 6.25% rate. The decision not to pay the dividend was made by the Emmis Board of Directors and the payment of any future dividends on the preferred stock will also be determined by the board.