Strategy proposes daily dividends to bring STRC back toward $100
Source: CoinDesk ·
From the source
STRC has remained below $100 since May, despite a 12% dividend rate and roughly $1 billion in preferred share buybacks. Strategy MSTR $158.08 is asking shareholders to approve daily dividends across its four U.S. listed preferred stocks, STRF, STRC, STRK and STRD. The largest corporate holder of bitcoin BTC $83,520.54 proposed that dividends would accrue every calendar day, including weekends and holidays, and be paid on the next business day. The proposal changes payment timing, but leaves dividend rates and total regular dividend amounts unchanged. Shareholders are due to vote on Oct. 28. If approved, STRC’s first daily dividend would be paid on Nov. 2. This move to daily dividends would be primarily targeted at STRC, which went from monthly to bi-monthly payments in June. STRC has still struggled to return to its $100 stated value since May, and fell to as low as $71 during bitcoin’s selloff back in June. Its annual dividend rate is currently 12%. Daily payments could make STRC…