Strategy acquired 334 Bitcoin for $28.7 million during the previous week. This purchase increased the company's total holdings to 848 000 BTC, as confirmed by an 8-K filing submitted to the US Securities and Exchange Commission on Monday.
Simultaneously, the firm allocated $176.3 million to repurchase approximately 1.77 million shares of its STRC preferred stock. This expenditure on share buybacks exceeded the company's weekly Bitcoin acquisition budget by more than six times.
The company is currently seeking shareholder approval to transition dividend payments for STRC, STRF, STRK, and STRD to a daily schedule. This change aims to replace the existing twice-monthly and quarterly payment structures.
Management stated that the proposed adjustment will not alter dividend rates or total payment obligations. The initiative is intended to enhance liquidity, improve price stability, and reduce reinvestment delays for the preferred securities.
A special shareholder meeting is scheduled for October 28 to vote on the proposal. If approved, the daily dividend schedule for STRC will commence in November, followed by the implementation for STRF, STRK, and STRD in January.
