Strategy has spent approximately $950 million repurchasing its own preferred stock STRC since late July, pushing the price from the $70-75 range back toward its $100 par value. The company authorized a buyback program of up to $2 billion and has already acquired nearly 10 million STRC shares. It also raised the dividend to 12% effective July 1, representing $12 per share annually. During this period, Strategy made no Bitcoin purchases, marking a pause in its systematic accumulation strategy. As long as STRC stays near par and the 12% dividend remains covered, the math works in the company’s favor.
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