Strategy leaves preferred STRC dividend at 12% as price still below par
Investors have previously benefited from a payout boost when the preferred STRC shares traded well below their $100 par value for a month.
Strategy has maintained its preferred STRC dividend at 12% despite the stock trading below its $100 par value. Executive chairman Michael Saylor informed investors that the August dividend will remain unchanged, opting to focus on promoting the stock as a means to "stretch your income." The dividend was increased to 12% in June, marking the second semi-monthly payment approved by shareholders.
STRC shares concluded Friday's trading at $89.46, marking a 5.42% gain for the month, following a 50 basis point hike from the previous 11.5% rate. Volume on Nasdaq was roughly two-thirds of the daily average for the day. Saylor affirmed the company's objective to have STRC trade around $99-$100 over time, while acknowledging the current trading price remains significantly lower than par.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
