Strategy declares conditional daily STRC dividends for November
Strategy is adjusting the payout mechanics on its STRC preferred stock as it seeks to support trading near the security's $100 par value. The move keeps the annualized dividend rate at 12% for November and ties the plan to shareholder approval and related amendments taking effect.
Highlights
- Strategy's board declared daily cash dividends for STRC from Nov. 1 to Nov. 30 at a 12% annualized rate, payable the next business day.
- STRC shares traded down 0.2% at $99.32, below the $100 par value targeted by management for sustaining the current dividend rate.
- Strategy purchased 250 Bitcoin for $21.5 million last week, raising holdings to 848,250 BTC, while repurchasing $176 million of STRC in early October.
Dividend plan and November payout schedule
As reported by Cointelegraph, citing a Form 8-K filing with the Securities and Exchange Commission, Strategy's board declared cash dividends for each calendar day from Nov. 1 to Nov. 30, with payments set to begin on Nov. 2. Each dividend is payable on the business day following its record date, under the terms outlined by the company.Strategy said management will continue recommending a 12% annualized dividend rate for STRC until the stock shows what it described as sustained, healthy trading near $100 per share. The preferred stock was down 0.2% at $99.32 at 1:36 p.m. UTC on Friday, according to Yahoo Finance.
Bitcoin funding strategy and capital allocation
Daily dividends could make STRC more attractive to investors and help the stock trade closer to its $100 par value. STRC is one of Strategy's main fundraising vehicles for Bitcoin purchases, linking the dividend structure directly to the company's broader crypto treasury strategy.Strategy added 250 Bitcoin for $21.5 million last week, bringing its total holdings to 848,250 BTC. In the week ending Oct. 4, the company repurchased $176 million of STRC, more than six times its $28 million in Bitcoin purchases during that period. On June 29, Strategy unveiled a capital framework allowing Bitcoin sales to fund dividends and raised STRC's annual dividend rate to 12%.
In our earlier article on the Philippine Social Security System (SSS) defending its equity portfolio, we covered how the fund emphasized decades of realized gains and recurring dividend income despite recent unrealized (paper) losses. SSS argued that mark-to-market declines do not translate into cash losses unless assets are sold below cost, and pointed to dividends and long-term, fundamentals-based holdings as key to sustaining income and resilience.
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