Strategy Inc. has proposed transitioning dividend accruals for its perpetual preferred stocks to a daily schedule. The proposal affects four securities: STRC, STRF, STRK, and STRD. Currently, these assets operate on a mix of semi-monthly and quarterly payment cycles. Under the new plan, dividends would accrue daily, including weekends and holidays, with payouts occurring on the next business day.
The company maintains that dividend rates will remain unchanged, including the 12% variable rate for STRC. The proposal aims to reduce reinvestment lag and improve liquidity for the preferred shares. The STRC instrument currently has a notional outstanding amount of approximately $9.3 billion and has distributed $255 million in dividends since June 2026.
Shareholders will vote on the proposal at a virtual special meeting scheduled for October 28, 2026, with voting opening around October 5. Approval requires a majority of voting power. Michael Saylor controls approximately 32.9% of the voting power via Class B shares. The company notes that STRC has traded below its $100 par value since May 2026.
The implementation will be staggered. If approved, STRC will begin daily record dates on November 1, 2026, with the first payment on November 2. The remaining three securities, STRF, STRK, and STRD, will continue under the existing system until December 31, 2026, and transition to daily accruals on January 1, 2027.
