Strategy Seeks Daily Dividends for STRC Preferred Stock Starting in November
Summary
- Strategy said it will maintain the annual dividend rate on preferred stock 'STRC' at 12% and pay a $1 per-share dividend for November.
- Strategy said it will put an amendment to its articles of incorporation to a vote at a special shareholder meeting on Oct. 28 to change the dividend payment schedule from twice a month to daily.
- Strategy said it plans to recommend that its board maintain the 12% annual dividend rate until STRC trades stably at around $100 a share.
Forecast Trend Report by Period
Strategy, the world’s largest corporate holder of Bitcoin, is seeking to keep the annual dividend rate on its preferred stock Stretch (STRC) at 12% and shift to daily dividend payments.
According to an 8-K filed with the US Securities and Exchange Commission on Oct. 16, the company set STRC’s November dividend rate at an annualized 12%. The total dividend for the month is $1 per share.
Strategy also plans to change the dividend payment schedule from twice a month to daily. To do that, it will hold a special shareholder meeting on Oct. 28 and put a related amendment to its articles of incorporation to a vote. If the measure passes and follow-up procedures are completed, daily dividends will begin on Nov. 1.
Strategy also plans to recommend that its board maintain the 12% annual dividend rate until STRC trades stably at around $100 a share.
Strategy was trading at $146.72 in premarket trading as of 9:10 p.m., down 3.02% from the previous session.
Uk Jin
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