Strategy seeks shareholder approval for daily preferred stock dividends
Strategy’s proposal would move STRC and its three other preferred stocks to daily dividend payments, following a similar move by Bitcoin treasury firm Strive.
Strategy is seeking shareholder approval to move its four preferred stocks, including STRC, to daily dividend payments without changing their dividend rates or the total amount paid.
The company’s board approved the proposal on Thursday, according to a Friday filing with the US Securities and Exchange Commission. Shareholders are scheduled to vote on the amendments at a virtual special meeting on Oct. 28.
If approved, each calendar day would become a dividend record date, with the corresponding payment made on the next business day. STRC would move to the new schedule first, with its initial daily dividend payment expected on Nov. 2.