Strategy · Bitcoin · Cointelegraph
Strategy seeks shareholder approval for daily preferred stock dividends
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Strategy’s proposal would move STRC and its three other preferred stocks to daily dividend payments, following a similar move by Bitcoin treasury firm Strive.
Key facts
- STRC has since recovered to about $98.41, close to Strategy’s stated goal of keeping the security between $99 and $100
- Strive holds 26,355 Bitcoin, compared with Strategy’s 846,000 BTC, according to BitcoinTreasuries
- STRF, STRK and STRD would follow in January, with their first payments under the daily schedule expected on Jan. 4
- Le said Strategy is seeking to prevent another such unwind by maintaining a strong US dollar reserve and having a policy that allows the company to repurchase STRC when it trades below its $100
Summary
Strategy is seeking shareholder approval to move its four preferred stocks, including STRC, to daily dividend payments without changing their dividend rates or the total amount paid. The company’s board approved the proposal on Thursday, according to a Friday filing with the US Securities and Exchange Commission. If approved, each calendar day would become a dividend record date, with the corresponding payment made on the next business day. STRF, STRK and STRD would follow in January, with their first payments under the daily schedule expected on Jan. 4.