Strategy Proposes Semi-Monthly Dividend Payments for STRC Preferred Stock

Strategy, a prominent bitcoin treasury company, has submitted a proxy filing that could enable semi-monthly dividend payments for its STRC 'Stretch' series of preferred stock, pending approval. Executive Chairman Michael Saylor noted that this change would not impact the annual dividend obligations or the current 11.5% dividend rate of STRC. Instead, the proposed modifications are designed to 'stabilize price, dampen cyclicality, drive liquidity, and grow demand.' The STRC series has been highly popular, with its outstanding notional value reaching $6.4 billion as of the filing. While volatility has decreased to 2.1% over the past two months, Saylor believes that semi-monthly payments could further reduce fluctuations. The voting period for the amendment will conclude on June 8, with the expected first payment date under the new plan set for July 15. Meanwhile, MSTR shares saw an 11.8% increase on Friday, coinciding with a 3% rise in bitcoin's value to $77,400.