Strategy (MSTR), a prominent player in the bitcoin treasury sector, has submitted a proxy seeking approval to enable semi-monthly dividend distributions for its STRC ‘Stretch’ series preferred stock. Executive Chairman Michael Saylor emphasized that this change would not alter the annual dividend obligations or rate, which currently stands at 11.5%. He explained that the initiative aims to stabilize prices, reduce cyclicality, enhance liquidity, and increase demand.
The STRC preferred stock has garnered substantial interest, with its outstanding notional value reaching $6.4 billion as of the latest filing. Over the past two months, volatility has decreased to 2.1%, compared to 13% during the initial eight months post-launch. Saylor believes that further reducing volatility is achievable through semi-monthly payments.
The amendment’s voting period concludes on June 8, with an anticipated first payment date of July 15 under the new structure. On Friday, MSTR shares climbed by 11.8%, mirroring bitcoin’s (BTC) rise to $77,400.