LITTLETON, Colo.--(BUSINESS WIRE)--Oct. 8, 1999-- EchoStar Communications Corporation (Nasdaq: DISH, DISHP) has confirmed an Oct. 18, 1999, record date in connection with payment of the final Quarterly Return Amount on the Company's 6 3/4% Series C Cumulative Convertible Preferred Stock (Series C Preferred Stock), in accordance with the terms pursuant to which the Company issued the Series C Preferred Stock.
The Quarterly Return Amount, equal to $0.84375 per share, will be paid in cash as of November 1, 1999. There are presently 1,041,757 million shares of Series C Preferred Stock outstanding.
Dividends on the Series C Preferred Stock will accrue from Nov. 2, 1999, and holders of the Series C Preferred Stock will be entitled to receive cumulative dividends at an annual rate of 6 3/4% of the Liquidation Preference, in accordance with the terms pursuant to which the Company issued the Series C Preferred Stock. Dividends are payable quarterly in arrears, commencing Feb. 1, 2000, when, as, and if declared by the Company's Board of Directors.