Strategy Daily Dividends Approved With 99.3% Vote — SkimNews
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- Strategy shareholders approved the Daily Dividends amendment at a special meeting with 99.3% of votes cast in favor, allowing STRF, STRC, STRK and STRD to accrue dividends every calendar day — a change the company proposed last month to dampen volatility in its preferred shares.
- STRC goes first, with its first daily record date on November 1 and payment on November 2, while STRF, STRK and STRD follow on January 1 with payment on January 4 — moving STRC from 24 record dates a year to 365.
- Strategy must still file amended terms for each of the four preferred stocks for the change to take effect, according to the SEC filing, under which every calendar day becomes a record date and payment follows on the next business day.
- Depository Trust Company will treat weekend and holiday record dates as falling on the previous business day, which Nasdaq will also use as the ex-dividend date: Nov. 6, 7 and 8 record dates are paid together Nov. 9, a Friday buyer receives none of the three while a Friday seller keeps all three, with treatment differing for shares traded outside Nasdaq or held through some brokers.
- STRC traded at $99.86 on Wednesday, just below its $100 par value, as Strategy paused its Bitcoin buying for the first time since mid-September and spent $204.9 million buying back the preferred stock.
- MSCI finalized a rule this month treating companies whose balance sheets are dominated by a single asset as ineligible and will publish the list of affected companies on November 11, with Strategy facing possible removal from MSCI's widely tracked equity indexes.
Why it matters: The "daily dividend" label doesn't mean money every day: DTC groups weekend and holiday record dates into the prior business day, so a Friday STRC buyer misses the Nov. 6–8 dividends while a Friday seller keeps all three. With STRC at $99.86 against $100 par, those settlement mechanics matter as much as the 99.3% vote.
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