Strategy Suggests Semi-Monthly Dividends for STRC Preferred Stock

Strategy, a prominent bitcoin treasury firm, has submitted a proxy statement that, upon approval, would enable semi-monthly dividend payments for its STRC 'Stretch' series of preferred stock. According to Executive Chairman Michael Saylor, this change would not impact STRC's annual dividend commitments or dividend rate, which currently stands at 11.5%. The proposed modifications are designed to stabilize prices, mitigate cyclicality, drive liquidity, and stimulate demand. The STRC series has gained immense popularity, with its outstanding notional value reaching $6.4 billion as of the filing. Although volatility has decreased to 2.1% over the past two months, Saylor believes that semi-monthly payments could further reduce it. The voting period for the amendment will conclude on June 8, with the expected initial payment date under the new plan set for July 15. Concurrently, MSTR shares experienced an 11.8% increase on Friday, coinciding with bitcoin's 3% rise to $77,400.