Strategy Proposes Semi-Monthly Dividends for STRC Preferred Stock

Strategy, a leading bitcoin treasury company, has submitted a proxy filing that, upon approval, would enable semi-monthly dividend payments for its STRC 'Stretch' series of preferred stock. The proposed change would not affect the annual dividend obligations or the dividend rate of STRC, which currently stands at 11.5%. As stated by Executive Chairman Michael Saylor, the intention behind the proposed changes is to 'stabilize price, dampen cyclicality, drive liquidity, and grow 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 minimize market 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. Notably, MSTR shares experienced an 11.8% increase on Friday, coinciding with bitcoin's 3% rise to $77,400.