Strategy proposes daily dividends to bring STRC back toward $100
STRC has remained below $100 since May, despite a 12% dividend rate and roughly $1 billion in preferred share buybacks.
Strategy MSTR$158.01 is asking shareholders to approve daily dividends across its four U.S. listed preferred stocks, STRF, STRC, STRK and STRD.
The largest corporate holder of bitcoin BTC$83,520.54 proposed that dividends would accrue every calendar day, including weekends and holidays, and be paid on the next business day.
The proposal changes payment timing, but leaves dividend rates and total regular dividend amounts unchanged. Shareholders are due to vote on Oct. 28. If approved, STRC’s first daily dividend would be paid on Nov. 2.
Daily payments could make STRC more attractive to income investors by reducing the wait to receive and reinvest dividends, while smoothing price moves around payment dates. Strategy says supporting a trading price close to $100 is the aim of the change.