Last week, Michael Saylor’s Strategy dedicated over six times its weekly Bitcoin acquisition budget toward repurchasing shares of one of its preferred stock classes.
As outlined in a Monday 8-K regulatory filing submitted to the United States Securities and Exchange Commission, Strategy acquired 334 Bitcoin (BTC) for $28.7 million over the course of Monday through Sunday, elevating its total reserves to precisely 848,000 BTC.
During that identical timeframe, the firm bought back roughly 1.77 million units of its STRC preferred stock at a total cost of $176.3 million.
This financial deployment arrives alongside Strategy’s announcement that it will ask shareholders to authorize an overhaul of dividend distributions for its entire suite of preferred equities, emphasizing the expanding significance of its preferred securities in supporting and overseeing its Bitcoin reserve plan.
Strategy pushes preferred stocks toward daily payouts
In a distinct proxy filing submitted on Monday, Strategy requested authorization to disburse routine dividends for STRC, STRF, STRK, and STRD on every single business day, which would supersede the current semi-monthly frequency for STRC and the quarterly distributions for the other three preferred share classes.
The organization noted that this initiative will not alter the dividend yields or the aggregate payout commitments, though it has the potential to minimize reinvestment friction while enhancing market liquidity and price consistency.
Investors are scheduled to cast their ballots regarding the measure during a special assembly on October 28. Should the measure pass, the daily payout routine for STRC is set to commence in November, whereas STRF, STRK, and STRD would transition to the new schedule in January.
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