MicroStrategy Proposes Daily Dividend Accruals for Preferred Securities
MicroStrategy, the Bitcoin treasury company formerly known as Michael Saylor's Strategy Inc. (NASDAQ: MSTR), is proposing to switch four of its Nasdaq-listed preferred securities to daily dividend accruals.
The affected securities are STRC, STRD, STRF, and STRK, which would see their dividend record dates changed to every calendar day, including weekends and holidays.
According to the company, this change aims to reduce reinvestment lag, improve liquidity, and make the securities more appealing to income-focused investors, institutions, and collateral users.
The variable-rate Stretch preferred, STRC, would be the first to convert, with its last semi-monthly record date expected around October 15. The first daily record date for STRC would be November 1, with payment on November 2.