Key facts
- Strategy declared conditional daily dividends on STRC preferred stock for November.
- The company plans to pay $1 per share if the daily-dividend proposal passes.
- Shareholders will vote on the proposal on October 28.
- Strategy aims for STRC to trade near its $100 par value.
- The company acquired an additional 250 Bitcoin for $21.5 million last week.
- Strategy repurchased $176 million of STRC in the week ending Oct. 4.
Strategy, the largest corporate holder of Bitcoin, has declared conditional daily dividends on its STRC preferred stock for November. This move is contingent on shareholder approval of a proposal to amend the dividend frequency, with a special meeting scheduled for October 28. If approved and effective before November, the company plans to pay $1 per share daily from November 2 through December 1. The annual dividend rate remains at 12% until STRC demonstrates sustained trading near its $100 par value. Strategy uses STRC as a primary vehicle for purchasing Bitcoin, acquiring an additional 250 BTC for $21.5 million last week, bringing its total holdings to 848,250 BTC. The company also repurchased $176 million of STRC in the week ending October 4. The announcement comes as Strategy faces potential exclusion from MSCI's global index.