Strategy shareholders approved, with 99.3% of votes cast, an amendment allowing its four preferred stocks, STRF, STRC, STRK and STRD, to accrue dividends every calendar day. Every day will become a record date, with payments made on the next business day: STRC will start on November 1, with payment on November 2, while STRF, STRK and STRD will follow on January 1, with payment on January 4. Dividends falling on a weekend or holiday will be grouped and paid on the next business day, creating specific consequences depending on trade settlement dates. The measure still requires Strategy to file amended terms for each preferred stock. The company aims to reduce STRC volatility by moving from 24 to 365 annual record dates, although the stock traded at $99.86, below its $100 par value; last week, Strategy paused its Bitcoin purchases to spend $204.9 million buying back STRC, while MSCI is due to publish on November 11 the list of companies that could be excluded from its indexes.
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