Strategy daily-dividend amendments win 99.3% of votes cast

Strategy shareholders approved amendments enabling daily dividends on four preferred securities, with 99.3% of votes cast in favor, according to Strategy’s preliminary results released Wednesday. Strategy, the largest publicly traded corporate Bitcoin holder, expects STRC payments to start Nov. 2, followed by STRF, STRK and STRD on Jan. 4, 2027.

What did shareholders approve?

The vote amended the terms of Strategy’s four preferred securities—STRF, STRC, STRK and STRD. It replaces semi-monthly or quarterly dividend schedules with payments on every business day. Strategy said the change leaves the annual dividend rates unchanged.

Under the structure, dividends accrue every day, including weekends and holidays. The payment itself occurs only on business days, separating the income-accrual clock from the schedule for receiving cash.

Strategy said the changes are designed to “shorten the time between earning dividends and receiving cash” and to support liquidity and price stability in its preferred shares. The objective is faster cash delivery without a corresponding increase in the securities’ stated annual yields.

The four preferred stocks carry annual dividend rates ranging from 8% to 12%. STRC’s variable rate is currently 12%, while STRF, STRK and STRD pay fixed dividends. STRK also gives investors the option to convert their holdings into Strategy common stock.

When do the payments begin?

Strategy expects daily payments on STRC to begin Nov. 2. It plans to launch daily distributions for STRF, STRK and STRD on Jan. 4, 2027, giving STRC an earlier start than the other three securities.

The staggered rollout leaves each security’s existing annual rate in place. It changes when holders receive cash after a dividend accrues, making payment timing the central operating difference.

How does Strive compare?

Strive introduced daily cash dividends on its SATA preferred stock in June, months ahead of Strategy’s planned changes. It has since launched a second preferred security, SATS, with a fixed 15% annual dividend rate. Daily SATS payments are scheduled to begin Nov. 9, subject to declaration.

Strive closed a $630 million SATS offering on Oct. 20, selling 7 million shares at $90 each. Strive said the proceeds “could be used for Bitcoin purchases and other corporate purposes,” but the company has not disclosed how much it intends to allocate to Bitcoin.

The raise expands Strive’s preferred-stock funding while leaving the Bitcoin allocation unspecified. SATS also gives Strive a second preferred security in its daily-dividend lineup, ahead of Strategy’s broader rollout.

A related Strategy report said the company skipped Bitcoin purchases and spent $205 million on STRC buybacks. The buyback directed capital toward the same preferred series that Strategy plans to move to daily payments.

What changes in the preferred market?

BitcoinTreasuries.net data puts Strategy’s treasury at 848,517 BTC and Strive fourth with 43,000 BTC. The holdings gap separates Strive’s earlier daily-payment rollout from Strategy’s broader change across four preferred issues.

The products differ in structure. Strive’s SATS offers a fixed 15% annual dividend, Strategy’s STRC carries a variable rate currently set at 12%, and Strategy’s STRK includes conversion into common stock. The daily schedules make cash delivery more frequent, but they do not make the securities interchangeable.

Operationally, the shift requires Strategy’s payment systems to handle a business-day distribution for each of the four series rather than periodic payments. For holders, the benefit the company is targeting is a shorter wait between earned dividends and cash receipt.

The next checkpoints are Nov. 2 for STRC’s first daily payment, Nov. 9 for Strive’s SATS payment schedule, subject to declaration, and Jan. 4, 2027 for Strategy’s other three preferreds. After that launch, all four Strategy series will operate on a daily business-day payout schedule.