Strategy proposes changing preferred stock dividends to daily accrual, shareholder vote on October 28

Odaily reports: Strategy Executive Chairman Michael Saylor stated that Bitcoin itself does not pay coupons, and the company distributes dollar dividends to investors in accordance with the terms of its securities. The company raises funds by issuing shares or selectively selling holdings, and covers dividends and debt interest with cash reserves; its preferred stock is not collateralized by Bitcoin. Strategy's common stock MSTR provides Bitcoin exposure, while preferred stock STRC targets investors seeking dollar income. STRC currently has an annualized dividend rate of 12%, with the rate adjusted monthly and dividends paid twice per month; the security has no maturity date and does not guarantee repayment of principal. On September 25, Strategy proposed changing dividends to accrue on each calendar day, with declared amounts typically paid on the next business day, while the regular dividend rate and total amount remain unchanged. Shareholders are scheduled to vote on October 28; if the proposal is approved, STRC's first daily record date will be November 1, and the first payment is scheduled for November 2. (Bitcoin.com News)