Cda Mines Stock Being Converted

The number of shares of Coeur d’Alene Mines’ stock will grow next week, when preferred stock mandatorily converts to common stock.

The company expects to issue up to 7.9 million additional shares of common stock as a result of the March 15 conversion, increasing the number of outstanding shares to about 37 million.

The conversion will save Coeur d’Alene Mines about $10.5 million annually in dividends now paid to preferred shareholders, said Mike Steeves, director of investor relations.