Strategy · Bitcoin · Michael Saylor · The Block
Strategy proposes daily dividends for STRC, STRD, STRF and STRK preferred stocks
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Bitcoin treasury company Strategy is seeking shareholder approval to pay daily dividends on four of its U.S.-listed preferred stocks, including STRC, which moved from monthly to semi-monthly payments less than three months ago.
Key facts
- It closed down 0.6% at $98.31 on Thursday, per TradingView, having previously plunged below $75 in June
- Strategy's board approved the proposal on Sept. 24, according to an 8-K filing with the Securities and Exchange Commission on Friday
- Following that drop, Strategy introduced a $1 billion repurchase program for its preferred stock, initially prioritizing STRC
- STRC would be the first to switch, with an initial record date of Nov. 1 and payment the following day if shareholders approve the amendments
Summary
Strategy's board approved the proposal on Sept. 24, according to an 8-K filing with the Securities and Exchange Commission on Friday. The proposal does not change the dividend rates on the four securities or increase Strategy's total regular dividend obligations. "The proposed changes aim to support price stability, liquidity, and demand," Strategy co-founder and Executive Chairman Michael Saylor said on X. Strategy shareholders previously approved moving STRC from monthly to semi-monthly dividends in June.