Strategy Declares Conditional Daily STRC Dividends as Preferred Stock Trades Just Under Par

Strategy has declared daily cash dividends on its STRC preferred stock for every calendar day from Nov. 1 to Nov. 30. Payments are set to begin Nov. 2 and will be made on the business day after each record date, according to an SEC filing. The plan still depends on shareholder approval and on related amendments taking effect. The annualized rate stays at 12%, and management says it will keep recommending that level until the stock shows sustained, healthy trading near $100 per share.

STRC Price Below Its $100 Par Value

STRC slipped 0.4% on Friday to $99.20, so it continues to sit just under par. Daily payouts could make the shares more attractive and help pull the price toward $100. The security is one of the company’s main tools for raising money to buy Bitcoin.

Strategy Bitcoin Holdings and STRC Buybacks

Last week the firm bought 250 BTC for $21.5 million, lifting its total to 848,250 BTC. During the week ending Oct. 4, it repurchased $176 million of STRC, more than six times the $28 million it spent on Bitcoin that week. In June, Strategy introduced a capital framework that permits Bitcoin sales to fund dividends and raised the STRC annual rate to 12%.