In a significant move to enhance shareholder value, Strategy Co. announced on Wednesday that its shareholders have overwhelmingly approved an amendment to the company’s daily dividend structure. According to Executive Chairman Michael Saylor, preliminary voting results indicate that 99.3% of participants favored the proposed changes.
This amendment enables shareholders of STRF, STRC, STRK, and STRD to receive dividends daily, inclusive of weekends and holidays. The proposal first surfaced on September 25, with a special shareholder meeting convened for October 28 to discuss potential adjustments.
As part of its rationale for the changes, Strategy anticipates that these modifications will “reduce reinvestment delays, improve liquidity and market efficiency, and increase price stability.” The company expressed optimism that the updated structure would enhance the attractiveness of its digital credit products, thus supporting shareholders in obtaining preferred equity capital more efficiently and expanding their capital market strategies related to Bitcoin.
Under the new structure approved, dividends will accrue daily but be disbursed on the subsequent business day. Importantly, Strategy confirmed that the overall dividend rate and total dividend obligations remain unchanged. The company posits that these adjustments could create a more user-friendly environment for its common shareholders when accessing digital credit products.
The timing of the implementation hinges on board decisions and necessary regulatory filings. If the board endorses the changes, the first recording and payment dates for STRC are set for November 1 and 2, 2026, while for STRF, STRK, and STRD, these dates are projected for January 1 and 4, 2027. These timelines are contingent upon operational readiness as well.
The STRC shares a variable interest rate that can be altered at the company’s discretion. As reported in Strategy’s quarterly update, the interest rate as of June 30, 2026, was 11.50%. In June, shareholders had already approved a transition of STRC to semi-monthly payments, laying the groundwork for this latest amendment.
Essentially, the STRC framework is designed to facilitate fundraising from investors through a preferred stock offering that aims for a stable $100 price point alongside a variable dividend yield. This financial approach enables Strategy to continually acquire Bitcoin irrespective of short-term price changes, effectively creating a global dollar-cost averaging model for Bitcoin investment.
Final voting results will be detailed in the company’s official filings, with the board’s approval being the last necessary step before this new payment schedule is initiated.
Context: Strategy’s Bitcoin Acquisition Approach in 2023
This shareholder vote occurred amid a period marked by a downturn in the Bitcoin market. Consequently, Strategy has reduced the pace of its Bitcoin acquisitions, opting to liquidate portions of its holdings to cover preferred dividends, interest obligations, and share buybacks.
At present, the company’s common stock, MSTR, has decreased nearly 50% over the past year but demonstrates a substantial increase of approximately 1,000% since the company began investing in Bitcoin in 2020.
Recently, Strategy declared a halt to Bitcoin purchases after last week, maintaining its extensive holdings of 848,517 BTC, which were acquired at a total expenditure of $64.02 billion, at an average purchase price of $75,446 for each Bitcoin.
Furthermore, the company invested $204.9 million repurchasing STRC preferred stock while retaining cash reserves amounting to $4.83 billion.
In a comparable effort, fellow Bitcoin treasury firm Strive has been paying cash dividends daily on its floating rate series A perpetual preferred stock (SATA), with a transition from monthly to daily payments having taken effect on June 16.
