Strategy plans to change STRC dividend to daily distribution, maintaining 12% annualized dividend rate for November

Odaily News: According to a U.S. Securities and Exchange Commission (SEC) filing, Strategy announced that the November regular dividend annualized rate for its floating rate Series A perpetual preferred stock STRC will remain at 12%. The company's board of directors also announced plans to distribute cash dividends on a daily basis from November 1 to November 30, with dividends corresponding to each record date to be paid on the next business day, totaling $1 per share for November.

The daily dividend plan must meet two conditions: shareholders approve the relevant amendment at the special shareholders meeting on October 28, and the amended certificate of designation takes effect before 12:01 a.m. Eastern Time on November 1.

If the conditions are met, the dividend originally scheduled for payment on November 15 will be canceled; if not approved, dividends will continue to be paid at the current semi-monthly frequency.

Strategy previously stated that management will recommend the board maintain the 12% annualized dividend rate until the STRC price stabilizes consistently around $100 per share.