Strategy declares daily dividends for STRC stock in November

Strategy, the company led by Michael Saylor and the largest corporate holder of Bitcoin in the world, declared daily dividends on its STRC preferred shares for November. The move depends on shareholder approval and the entry into force of related bylaw changes. The board approved one payment for each day of the month, from November 1 to November 30, with the first deposits scheduled for November 2.

Each dividend will be paid on the business day following the record date. The STRC annual rate will remain at 12% throughout the month. The company said it will keep this rate until the stock trades in a healthy and stable way near $100 per share.

Daily dividends may make STRC more attractive to investors and help the stock move closer to its $100 par value. STRC is one of the main instruments the company uses to raise capital and buy Bitcoin. At the end of June, Strategy created a capital model that allows it to sell Bitcoin to pay dividends and raised the STRC annual rate to 12%.

On Friday, the stock was at $99.32, down 0.2%. Last week, the company bought 250 Bitcoin for $21.5 million and now holds 848,250 BTC in its treasury.

In the week ending October 4, Strategy repurchased $176 million in STRC. The amount was more than six times larger than the $28 million invested in Bitcoin during that period.