Strategy has announced daily cash dividends for its STRC preferred stock throughout November. Payments are scheduled to commence on Nov. 2, covering each calendar day from Nov. 1 to Nov. 30. The declaration remains subject to shareholder approval and the implementation of necessary amendments.
The annualized dividend rate for STRC is set at 12%. Management intends to maintain this rate until the stock price consistently trades near its par value of $100. As of Friday, the stock was trading at $99.32. The company utilizes STRC as a primary vehicle for raising capital to fund its Bitcoin acquisitions.
The firm recently expanded its Bitcoin holdings by 250 BTC for a total of $21.5 million, reaching a cumulative total of 848,250 BTC. During the week ending Oct. 4, Strategy conducted share buybacks totaling $176 million, significantly exceeding its $28 million investment in Bitcoin during the same period.
The current dividend policy follows a capital framework introduced on June 29, which permits the sale of Bitcoin to fund dividend distributions. This framework also facilitated the increase of the annual dividend rate for STRC to 12%.
