Strategy Seeks to Keep STRC Preferred Dividend at 12% and Start Daily Payouts in November

Strategy, the world’s largest corporate holder of Bitcoin, is seeking to maintain the annual dividend rate on its STRC preferred shares, known as Stretch, at 12% and begin paying dividends daily.

According to an 8-K filing submitted to the U.S. Securities and Exchange Commission on Oct. 16, the company set STRC’s dividend rate for November at an annualized 12%. The total dividend for the month will be $1 per share.

Strategy also plans to change the dividend payment schedule from twice a month to daily. To do that, it will hold a special shareholder meeting on Oct. 28 and put a related amendment to its articles of incorporation to a vote. If the measure passes and follow-up procedures are completed, daily dividend payments will begin on Nov. 1.

The company also plans to recommend that its board maintain the 12% annual dividend rate until STRC trades steadily around $100 a share.

Strategy was trading at $146.72 in premarket trading as of 9:10 p.m., down 3.02% from the previous session.