Boralex convertible debenturesBLX.db : 6.75%, conv. at $12.5 maturity june 30th 2017. For every dollar over $12.50, the deb is Worth $8. more. For every quartely dividend of $0.13, the conversion price is reduced by a like amount hence the intrinsic value of the deb is increased by $1. (8 x $0.13). So, by expiry date (june 30 2017), if the dividend remains the same, the conversion price will be $10.68 and the intinsic value of the deb will be increased by 14.56. Conclusion, buying the deb gives you the interest of the deb and the dividend of the stock in the form of a reduced conv price