MicroStrategy Keeps STRC Dividend at 12%

MicroStrategy's high-yielding preferred stock STRC is maintaining its 12% dividend rate for August, according to the company.

This decision comes after the stock traded as low as $71 in June but rebounded to $89.46 in July due in part to a 50-basis-point hike in the dividend and Strategy's sale of some Bitcoin to fund dividends.

CEO Phong Le stated that Strategy's Corporate Objective is for STRC to trade at $99-$100 over time, indicating no immediate plans to raise the dividend despite being below par value.

The company has traditionally raised the payout when the stock trades significantly below its par value of $100, but it appears this policy will be adhered to in August as well.