Is it? I'm surprised it has a dividend (coupon?) at all. If it's the type of convertible offering Im assuming you mean, the point is the potential upside while limiting the downside. Coupon of 0% would be fine for that.
Discussion
The information I found said that the coupon is 10% annually but it is non-cumulative.
I had to go find that non-cumulative meant because I didn’t know what that meant. And apparently it means exactly what I said.