Saylor's Daily Dividend Hustle: 30 STRC Payments for the Price of One Bitcoin Vote 🗳️

Strategy, the largest corporate Bitcoin holder, declared conditional daily cash dividends on its STRC preferred stock for November, contingent on shareholder approval of a frequency amendment at an October 28 special meeting and the timely filing of that amendment taking effect before November. The company's board set dividends for each calendar day from Nov. 1 to Nov. 30, with payments beginning Nov. 2 and each dividend payable on the business day following its record date, according to a Form 8-K filing with the Securities and Exchange Commission. If approved, the total payout would equal $1 per share.

STRC's annualized dividend rate would remain at 12% for November. Strategy said management would keep recommending that rate until the stock demonstrates "sustained, healthy trading near $100 per share." Daily distributions could make STRC more appealing to investors and help it trade closer to its $100 par value. STRC is one of Strategy's main fundraising vehicles for Bitcoin (BTC) purchases.

The shares were down 0.2% on Friday at $99.32 as of 1:36 pm UTC, according to Yahoo Finance. If the amendment is approved, Strategy would join fellow Bitcoin treasury firm Strive, which already pays daily dividends on its preferred security SATA. Switching from the current twice-monthly schedule would mean stockholders would receive dividends every calendar day of the year, regardless of weekends or holidays.

Strategy added 250 Bitcoin for $21.5 million last week, bringing its total holdings to 848,250 BTC. During the week ending Oct. 4, the company repurchased $176 million worth of STRC, spending more than six times as much on the buybacks as on its $28 million in Bitcoin purchases. On June 29, Strategy unveiled a capital framework allowing Bitcoin sales to fund dividends and increased STRC's annual dividend rate to 12%.