Strategy Shareholders Approve Daily Dividends on Preferred Stock, With 99.3% in Favor
Summary
Strategy shareholders approved, with 99.3% of votes cast, a plan for its four preferred stocks—STRF, STRC, STRK and STRD—to accrue dividends every calendar day. STRC is scheduled to begin daily record dates November 1, with payments the next business day; the other stocks are expected to follow January 1. The change still requires amended stock terms. Because markets close on weekends and holidays, non-trading-day dividends will generally be grouped with the previous business day’s record date. Strategy said the change is intended to reduce preferred-share volatility. STRC traded just below its $100 par value, and Strategy recently bought back $204.9 million of STRC while pausing Bitcoin purchases.
