Strategy Seeks Shareholder Approval for Daily Dividends on Preferred Stocks
Strategy, a bitcoin treasury company, is seeking shareholder approval to pay daily dividends on four of its U.S.-listed preferred stocks. The proposed changes would affect STRC, STRD, STRF, and STRK, which form the core of Strategy's 'Digital Credit' platform.
The proposal aims to support price stability, liquidity, and demand by paying dividends more frequently. This change does not alter the dividend rates or increase Strategy's total regular dividend obligations.
STRC would be the first to switch, with an initial record date of November 1, followed by STRF, STRD, and STRK in January. The company's board approved the proposal on September 24, according to an 8-K filing with the Securities and Exchange Commission.
Strategy co-founder Michael Saylor said that the proposed changes aim to support price stability, liquidity, and demand. Strategy has scheduled a virtual special meeting for October 28, where approval requires a majority of the voting power of its outstanding common stock.