The author of this article holds shares in MicroStrategy (MSTR). As the largest publicly traded holder of bitcoin, MicroStrategy (MSTR) has kept the dividend rate for its perpetual preferred stock, STRC, at 11.5% for May. This marks the third month in a row that the dividend has remained at this rate.
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 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, offering monthly cash distributions.
Currently, STRC is trading at $99.75 and has been below par since April 15, but it is expected to return to $100 next week based on historical patterns. Meanwhile, MSTR's common stock has shown signs of recovery, closing April at $165, which represents a 33% increase and its first positive month in nine. The stock had previously fallen by 75% over eight consecutive losing months from August 2025 to March 2026, according to data from TradingView. Bitcoin also saw a 12% increase in April, its best monthly performance since April 2025.
Furthermore, MicroStrategy is considering a shift from monthly to semi-monthly dividend payments for STRC to reduce volatility even further.