Strategy Suggests Semi-Monthly Dividends for Popular STRC Preferred Shares

Strategy, a prominent bitcoin treasury firm, has submitted a proxy filing 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 affect the annual dividend obligations or the dividend rate of STRC, which currently stands at 11.5%. The primary objective of this proposal is to stabilize prices, mitigate cyclicality, drive liquidity, and stimulate demand. The STRC series has gained significant 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 market fluctuations. The voting period for this amendment will conclude on June 8, with the anticipated first payment date under the new plan set for July 15. Meanwhile, MSTR shares experienced an 11.8% increase on Friday, coinciding with bitcoin's 3% rise to $77,400.