Michael Saylor’s Strategy devoted more than six times its weekly Bitcoin purchasing budget to repurchasing one of its preferred stocks last week, according to a regulatory filing.
Between Monday and Sunday, Strategy acquired 334 Bitcoin for $28.7 million, bringing its total treasury holdings to 848,000 Bitcoin, as detailed in a Monday 8-K form filing with the US Securities and Exchange Commission. Over the exact same period, the company repurchased approximately 1.77 million shares of its STRC preferred stock at a cost of $176.3 million.
This capital allocation coincides with Strategy's announcement that it will ask shareholders to approve a comprehensive overhaul of dividend payments for its preferred-stock lineup, underscoring the increasing significance of preferred securities in the company's financial operations and Bitcoin treasury management.
Proposed Overhaul to Daily Dividend Payouts
In a separate proxy statement filed on Monday, Strategy requested shareholder approval to transition regular dividend payments for its STRC, STRF, STRK, and STRD preferred stocks to every business day. This change would replace the current schedule, which features twice-monthly payments for STRC and quarterly payments for the remaining three preferred securities.
Strategy stated that the proposed modification will not alter existing dividend rates or the company's overall payment obligations. Instead, the firm believes the adjustment could shorten reinvestment delays while enhancing both liquidity and price stability.
Shareholders are scheduled to vote on the dividend proposal during a special meeting on October 28. If the measure receives approval, the daily payout schedule for STRC is slated to begin in November, with STRF, STRK, and STRD following in January.
