Just-In: Michael Saylor Announces STRC Dividend Proposal Voting Is Now Open
Michael Saylor announced that voting is now open for shareholders to approve a change to Strategy’s STRC stock structure. It proposes to change the payout of STRC dividend payments from monthly to semi-monthly.
Michael Saylor Opens Voting For STRC Dividend Proposal
“You can now vote for the proposed $STRC amendment to pay semi-monthly dividends, instead of monthly. Make your voice heard and your vote count,” Saylor announced on X. The declaration comes right after Strategy’s $255 million Bitcoin buy on Monday, April 27.
The STRC proposal calls for a shift in payment frequency that it claims will enhance capital efficiency. Strategy said that a twice-monthly dividend payment could eliminate reinvestment lag and help improve market liquidity. The company also cited potential improvements in market efficiency and price stability as benefits of the change.
Per Michael Saylor’s announcement, voting on the proposal started on April 28 with the definitive proxy. Voting will continue until June 8 with a meeting on the same day to decide the matter. Only those shareholders who owned shares on April 17 will be eligible to vote.
The new STRC dividend policy will come into effect later in the quarter if the change is passed. The first record date for the new payment schedule is June 30 and it will be payable on July 15.
How Can Strategy Shareholders Vote?
Shareholders can vote online via their brokerage accounts or using control numbers on proxy documents, Strategy noted. For those who receive digital communications, control numbers will be included in voting emails. Meanwhile, those receiving hard copy documentation will receive information on their proxy cards.
It added that proxy voting rights may differ among brokers, especially for non-U.S. shareholders. Hence, the Michael Saylor-backed company advised shareholders to check with their brokers to ensure they are eligible to vote by proxy.
However, the MSTR stock dipped 0.22% to $165.35 in the after hours on Tuesday, April 28.
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