Strategy, the Bitcoin-holding company formerly known as MicroStrategy and the largest corporate holder of Bitcoin, has conditionally declared daily cash dividends on its STRC preferred stock for the month of November, as the shares continue to hover below their $100 par value. The declaration by Michael Saylor's firm remains subject to shareholder approval and to related amendments taking effect.

According to a Form 8-K filing with the United States Securities and Exchange Commission, the company's board declared cash dividends for each calendar day from Nov. 1 through. 30, with payments set to begin on Nov. 2, the day after the first daily dividend accrues. Under the declared schedule, each dividend will be payable on the business day following its record date — a cadence that settles each payout shortly after it accrues.

STRC's annualized dividend rate will remain unchanged at 12% for November. Strategy said its management will keep recommending that rate until the stock demonstrates what it described as "sustained, healthy trading near $100 per share" — a benchmark the company itself has set for any future adjustment.

The daily dividend structure could make STRC more appealing to investors and help the shares trade near their $100 par value. STRC is one of Strategy's main fundraising vehicles for its Bitcoin (BTC) purchases, making the preferred shares' trading level a recurring focus of the company's capital plans.

In Friday trading, STRC was down 0.2% at $99.32 as of 1:36 pm UTC, according to market data from Yahoo Finance, leaving the shares just below the $100 threshold.

The November dividend declaration comes after a period in which Strategy's preferred-stock repurchases far outpaced its Bitcoin accumulation. During the week ending Oct. 4, the company bought back $176 million worth of STRC, spending more than six times as much on the buybacks as on the $28 million in Bitcoin purchases it made over the same period — a snapshot of how the company's capital has recently been allocated between repurchasing preferred shares and buying Bitcoin.

Separately, Strategy added 250 Bitcoin for $21.5 million last week, bringing its total holdings to 848,250 BTC.

The move builds on a capital framework Strategy unveiled on June 29, which allows the company to sell Bitcoin to fund dividends on its preferred stock — a mechanism that directly ties the preferred payouts to the company's Bitcoin treasury. At that time, Strategy also increased STRC's annualized dividend rate to 12%.

Until shareholders approve the related amendments, the November schedule remains provisional, and how STRC trades against the $100 mark will be the yardstick Strategy itself has said it will use for the 12% recommendation.

Source: Cointelegraph