Strategy shares rose 4.45% to $136.58 on Monday after the company began daily dividends on its STRC preferred stock. The first payment under the new schedule is due November 3, per a November 2 SEC filing, at a 12% annualized rate on STRC's $100 stated value. Strategy also repurchased 2,092,035 STRC shares for $208.2 million and bought 811 BTC for $65.5 million.
Strategy returning STRC to $100 par meant the preferred traded at the price the instrument is structured around for the first time since May. Its $208.2 million of STRC repurchases, per CoinGape, reduced the outstanding amount of that preferred.
Strategy's STRC preferred stock reached $100 par on Wednesday, the first time since May, according to Bitcoin Magazine. The publication said the level followed more than $2 billion in buybacks and a change in the security's dividend terms.
Earlier, CoinGape reported that Strategy began paying STRC dividends daily at a 12% annualized rate and repurchased $208.2 million of STRC shares. The company's common shares rose 4.45% to $136.58 on the day those moves were reported.
Bitcoin Magazine did not state the date of its report or how it arrived at the $2 billion repurchase total in the portion of the article available.
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