Capital Stock

9 Months Ended

Sep. 30, 2011

Capital Stock

Note 5.  Capital Stock

Series A and Series B preferred stock — Dividends on our 4.0% Series A Convertible Preferred Stock and 4.0% Series B Convertible Preferred Stock (preferred stock) are accrued monthly and are payable in cash as approved by the Board of Directors.  Preferred dividends of $8 were accrued at September 30, 2011.

During the first nine months of 2011, holders of 90,099 shares of Series B Preferred Stock elected to convert those preferred shares into common stock and received 760,945 shares.  The common stock issued included shares to satisfy the accrued dividends owed to the converting preferred stockholders.  Based on the market price of Dana common stock on the date of conversion, the total fair value of the conversions was $14.