The author of this article holds shares in MicroStrategy (MSTR). As the largest publicly traded holder of bitcoin, with a value of $79,742.07, MicroStrategy (MSTR) has kept the dividend rate for its perpetual preferred stock, STRC, at 11.5% for May. This marks the third consecutive month that the dividend rate has remained unchanged.
The volume-weighted average price (VWAP) for April was $99.76, which is close enough to the $100 par value to justify maintaining the current dividend rate. Since its listing in July 2025 with a 9% dividend, STRC has experienced a series of increases as the company aims to minimize volatility and keep the price near its $100 par value. MicroStrategy positions STRC as a short-term, high-yield savings alternative that provides monthly cash distributions. Currently, STRC is trading at $99.75 and has remained below par since April 15.
However, based on historical trends, it is expected to return to $100 next week. Meanwhile, MSTR common stock has shown signs of recovery, closing April at $165, which represents a 33% increase and its first positive month in nine. Prior to this, the stock had fallen by 75% across eight consecutive losing months from August 2025 to March 2026, according to TradingView data. Additionally, bitcoin rose by 12% in April, marking its best monthly performance since April 2025.
Furthermore, MicroStrategy is considering shifting to semi-monthly dividend payments for STRC, moving away from its current monthly distribution structure to further reduce volatility.