Michael Saylor’s Strategy, known as the largest corporate Bitcoin holder, has declared daily dividends on its STRC preferred stock for the month of November. The declaration is subject to shareholder approval and related amendments taking effect.
According to a Form 8-K filing with the Securities and Exchange Commission, the company’s board declared cash dividends for each calendar day from Nov. 1 to Nov. 30, with payments scheduled to begin on Nov. 2. Each dividend is payable on the business day following its record date.
The annualized dividend rate for STRC will remain at 12% for November. Strategy stated that management intends to continue recommending that rate until the stock demonstrates sustained, healthy trading near $100 per share. The daily dividends are intended to make STRC more appealing to investors and assist the stock in trading near its $100 par value. STRC serves as one of Strategy's primary fundraising vehicles for Bitcoin purchases.
Yahoo Finance data showed STRC down 0.2% at $99.32 at 1:36 pm UTC on Friday.
Strategy recently reported adding 250 Bitcoin for $21.5 million, raising its total holdings to 848,250 BTC. During the week ending Oct. 4, the company repurchased $176 million worth of STRC, which was more than six times the amount spent on its $28 million Bitcoin purchases that same week.
Previously, Strategy unveiled a capital framework on June 29 that allows Bitcoin sales to fund dividends while increasing STRC’s annual dividend rate to 12%.
