Strategy leaves preferred STRC dividend at 12% as price still below par
Strategy said its preferred STRC dividend will stay at 12% in August, despite the shares ending July well below their $100 par value. August will be the second month of semi-monthly dividend payments after shareholders approved the change in June. STRC closed Friday at $89.46, up 5.42% for July, but still below par. Executive chairman Michael Saylor continued promoting STRC as an income product, while CEO Phong Le said management wants the shares to trade at $99-$100 over time. The company also reported an $8.22 billion Q2 net loss, driven mainly by an unrealized $8.32 billion loss on Bitcoin holdings. Strategy said it has built a $3.75 billion cash reserve to fund preferred payouts and has already repurchased $25 million of STRC below par, with plans to keep buying while it trades under $100.
