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Dividends | Interest
Interest
On March 27, 2003, Decoma issued 6.5% convertible unsecured subordinated debentures denominated in Cdn dollars, due March 31, 2010. The privatization of Decoma on March 6, 2005 resulted in the assumption of the obligations related to these debentures by Magna. The debentures are convertible at any time into Magna Class A Subordinate Voting Shares at a fixed conversion price of $96.19 per share. They may be redeemed by Magna subsequent to March 31, 2007; subject to certain conditions, as disclosed in the prospectus dated March 20, 2003 (www.sedar.com). The debentures are redeemable for the principal amount plus any accrued and unpaid interest.
The following table identifies the interest payments made to date.
6.5% Convertible Unsecured Subordinated Debentures (TSX: MG.DB)
|
Payment
|
Interest Per Cdn$1,000 (rounded)
|
| |
|
2008
|
|
| June 30, 2008 |
$32.322 |
|
|
|
|
|
2007
|
|
| December 31, 2007 |
$32.767 |
| June 30, 2007 |
$32.232 |
|
|
|
2006
|
|
| December 31, 2006 |
$32.767 |
| June 30, 2006 |
$32.232 |
| |
|
2005
|
|
| December 31, 2005 |
$32.767 |
| June 30, 2005 |
$32.232 |
| |
|
2004
|
|
| December 31, 2004 |
$32.677 |
| June 30, 2004 |
$32.322 |
| |
|
2003
|
|
| December 31, 2003 |
$32.767 |
| June 30, 2003 |
$16.918 |
|
