Strategy Declares Conditional Daily STRC Dividends Ahead of October 28 Vote
Highlights
- Strategy has declared conditional daily dividends for November.
- This is dependent on the amendment passing at the October 28 meeting and the effective filing.
- The total dividends for November is $1 per share.
Bitcoin treasury firm Strategy has announced conditional daily STRC dividends for November ahead of the October 28 vote on a proposal to amend the STRC stock’s dividend frequency. The company plans to pay $1 per share next month if the daily-dividend proposal passes and takes effect in time.
Strategy Forges Ahead With Plan To Share Daily STRC Dividends
According to an SEC filing, the company has declared conditional daily STRC dividends for November. If conditions are met, the company will pay daily dividends from November 2 through December 1, totaling $1 per share.
These conditions include stockholders’ approval of the daily dividends proposal and timely filing of the approval to take effect before November. The company will hold a special meeting on October 28 for stockholders to vote on the proposal.
If the proposal passes, Strategy would join fellow Bitcoin treasury firm Strive, which already pays daily dividends on its preferred security SATA. Michael Saylor’s company currently pays STRC dividends twice a month. Switching to daily dividends means stockholders would receive dividends every day of the calendar year, regardless of weekends or holidays.
The Bitcoin treasury firm initially paid dividends monthly before switching to semi-monthly payments earlier this year. This move also comes as Strategy faces potential removal from MSCI’s global index after the firm announced plans to implement a methodology that excludes non-operating companies, which it classifies the Bitcoin treasury firm as.
MSTR Stock Down Over 3%
The MSTR stock is trading at around $146, down over 3% at the market open today, according to TradingView data. This comes amid concerns that the company could be excluded from MSCI’s global index by next month, which would cut the passive capital that flows into the stock from investors who track the index.
Despite this potential removal, some analysts remain bullish on MSTR stock. CoinGape reported that Cantor Fitzgerald raised its MSTR price target to $208 from $186 and maintained an Overweight rating.
A positive for the company is that the STRC stock is nearing its $100 par value. The stock is currently trading at $99.4, up in the last month, according to TradingView data.
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