STRC Preferred Stock Dividend Strategy Wins Shareholder Approval
Key Summary
Strategy Inc.'s preferred stock, STRC, is proposing a change to daily dividends, with the first payment scheduled for November 2. The proposal covers four securities, including STRC, STRF, STRK, and STRD. Under the new system, dividends would accrue daily, including weekends and holidays, and payments would land on the next business day. The rates remain unchanged, with STRC maintaining its 12% variable rate. The proposal aims to reduce reinvestment lag and improve liquidity in its preferreds. Voting is set to open on or around October 5, with the special meeting on October 28. Michael Saylor holds approximately 32.9% of voting power, giving the proposal a head start. The staggered rollout, with STRC moving first, effectively turns it into a two-month pilot.