Strategy (MSTR), the bitcoin treasury company, is proposing a significant shift in how it compensates shareholders: daily dividend payments across all four of its U.S.-traded preferred stock offerings — STRF, STRC, STRK and STRD. Preferred shares conventionally pay fixed distributions on quarterly schedules, with some issues paying monthly, so a daily cadence would stand out even outside the bitcoin treasury sector. Under the plan, each calendar day, including weekends and holidays, would serve as a dividend record date, with distributions arriving on the following business day. Because the record date determines which holders are entitled to a given distribution, the design would make investors eligible for a dividend on every day they hold the shares, with payment following the next business day. The proposal does not alter dividend percentages or aggregate payment values; it exclusively addresses distribution frequency and, according to the company, is intended to support price stability, liquidity and demand.

The initiative, disclosed ahead of a shareholder vote next month, represents the company's latest effort to shore up STRC, which has consistently traded below its $100 par value since May. Investors will cast ballots at a virtual special meeting scheduled for Oct. 28; the plan must be approved by shareholders before it can take effect. Voting details are available on Strategy's official voting page.

Strategy's common stock, MSTR, finished Friday's session at $158.61, trading near $158 with a daily decline of 2.15%. Bitcoin was trading around $83,600 on Friday.

Executive Chairman Michael Saylor announced the plan on X on Sept. 25:

Strategy is proposing daily dividends on $STRF , $STRC , $STRK , and $STRD , accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

— Michael Saylor (@saylor), September 25, 2026

Implementation would begin with STRC. If the proposal is approved, the initial daily dividend distribution for STRC would occur on Nov. 2. The remaining three preferred stocks — STRF, STRK and STRD — would transition in January, with their inaugural daily payments anticipated on Jan. 4. The staggered transition would place all four preferred classes on the daily schedule by early January. The Oct. 28 vote, the Delaware filing and the Nov. 2 and Jan. 4 target dates form the milestone sequence that would determine whether and when the daily schedule takes effect.

The STRC Trading Challenge

STRC — the first of the four instruments slated to make the switch — has faced significant headwinds throughout the year. Despite offering a 12% annual dividend yield, the security has failed to return to its $100 stated value since spring. During June's bitcoin market downturn, it sank to a low of $71.25. The shares have since climbed back to approximately $98.65, but closing the final distance to $100 has proven challenging.

Strategy CEO Phong Le discussed the price decline during a recent appearance on Natalie Brunell's Coin Stories podcast. He revealed that leveraged positions in STRC exceeded the company's projections. Market participants had been borrowing funds against bitcoin holdings at favorable rates to purchase STRC and capture the yield differential. When bitcoin prices tumbled, those investors faced margin calls, forcing them to liquidate STRC positions or post additional collateral.

“We did not expect the amount of leverage that came into the system,” Le said. “And so that's a lesson learned, next time around.”

Replicating Strive's Playbook

Strategy is not pioneering this approach. Strive, another bitcoin treasury company, implemented daily dividends in May for its SATA preferred shares, becoming the first publicly traded company to distribute dividends on a daily basis. Strive's SATA distributes payments each business day at a 13% annualized rate and has maintained trading levels closer to $100 than STRC. Strategy's proposal introduces a slight variation: it designates every calendar day, including weekends and holidays, as a record date rather than solely business days. By moving to daily accrual across all calendar days, Strategy would go a step further than its peer. With SATA the only live precedent for the structure, Strive's record of holding levels closer to $100 is the nearest available point of comparison for what Strategy is now proposing.

The difference in scale between the two treasuries is stark. Strive maintains a bitcoin treasury of 26,355 BTC. Strategy's holdings dwarf that figure: 846,000 BTC, purchased for $63.80 billion at an average cost basis of $75,416 per bitcoin.

Alongside the dividend proposal, Strategy has been executing a share repurchase program targeting its preferred stocks to provide price support. The company has deployed approximately $1 billion of a $2 billion authorized buyback, including $174 million in STRC repurchases during the week concluding Sept. 20. Le indicated the company aims to strengthen its cash reserves while maintaining its commitment to buying backC whenever it trades under $100. He also emphasized the importance of attracting more institutional, long-term investors to the shareholder base.

The modifications to Strategy's preferred stock terms would become operative following an official filing with Delaware state authorities.

Source: Blockonomi