"GMX Resources Announces Suspension of Quarterly Cash Dividends on Its 9.25% Series B Cumulative Preferred Stock" ($GMXR)

GMX RESOURCES INC. today announces that the Company's board of directors has elected to suspend payment of quarterly dividends on its outstanding shares of its 9.25% Series B Cumulative Preferred Stock until further notice, including the dividend payable on April 1, 2013. The Company has suspended the quarterly dividend in order to preserve capital and improve liquidity.