Over $14 billion in preferred stock outstanding, Strategy plans to adjust dividends to daily payments

Odaily: Strategy Executive Chairman Michael Saylor has proposed changing the dividend payment frequency on billions of dollars of preferred stock from every half-month or quarterly to daily payments, with the related securities carrying an annualized yield of up to 12%. Strategy currently has more than $14 billion in preferred stock outstanding; the company previously raised funds by selling common stock to buy Bitcoin, and after the premium of its common stock relative to its Bitcoin assets disappeared, it shifted to issuing perpetual preferred stock. The shareholder vote on this proposal will end on October 28.