Strategy leaves preferred STRC dividend at 12% as price still below par
While Strategys preferred STRC shares ended July well below their $100 par value, investors were told that their August dividend will not increase, holding at 12%. Executive chairman Michael Saylor delivered the news in a tweet on Saturday, continuing to pitch STRC as a way to “stretch your income.” August will be the second month that the dividend will be paid semi-monthly after shareholders approved that change in June. STRC shares closed at $89.46 on Friday, clocking a 5.42% price increase for the month which began with a dividend hike — 50 basis points to 12% — after a poor stock performance in June. The volume on the Nasdaq-traded shares on Friday were about two-thirds of their daily average. STRC shares continued to trade significantly below their $100 par value in July. Source: TradingView On Friday, Strategy CEO Phong Le reiterated that managements “corporate objective is for STRC to trade at $99-$100 over time,” without elaborating when investors might expect that to transpire. Related: Bitcoin ETFs end July in the green despite late-month selling Building cash reserve to make preferred payouts Saylor, however, did take to social media on Sunday to dangle the possibility that the company will be making an announcement of a change in its Bitcoin
