Strategy seeks daily dividends to restore STRC to $100

Strategy is asking shareholders to approve daily dividends for STRF, STRC, STRK and STRD. Dividends would accrue every calendar day, including weekends and holidays. Payments would be made on the next business day. The proposal would leave dividend rates unchanged. It would also leave total regular dividend amounts unchanged. Shareholders are due to vote on October 28. If approved, STRC's first daily dividend would be paid on November 2. Strategy has spent about $1 billion repurchasing preferred shares. That included $174 million of STRC in the week ended September 20. STRC changed from monthly to twice-monthly payments in June. STRC has struggled to return to its $100 stated value since May. STRC fell as low as $71 during bitcoin's selloff in June. STRC's annual dividend rate is currently 12%. Daily payments could reduce the wait to receive and reinvest dividends. They could also smooth price moves around payment dates. Strategy says the change aims to support a trading price close to $100.