Strategy asks shareholders to approve daily dividends for STRC preferred stock

Strategy Inc. wants its preferred stock dividends to arrive the way coffee does for most office workers: every single day.

The Bitcoin treasury company is asking common shareholders to approve a change that would move dividends on its perpetual preferred stocks to daily accrual. If the vote passes, the first daily-cycle payment on STRC is scheduled for November 2.

The proposal covers four securities: STRC, STRF, STRK, and STRD. It appeared in a preliminary proxy statement filed on September 25, 2026, and will go to a vote at a virtual special meeting set for October 28, 2026.

What changes and what stays the same

Right now, Strategy’s preferred dividends run on a mix of semi-monthly and quarterly schedules. Under the proposal, dividends would accrue every day, weekends and holidays included.

Payments would then land on the next business day. Saturday’s and Sunday’s accruals would simply catch up when markets reopen.

The rates themselves are not moving. STRC keeps its current 12% variable rate, and the company’s total annual dividend obligations stay where they are.

STRC goes first. If shareholders approve, it switches to daily record dates starting November 1, 2026, with the first payment on November 2.

The other three preferreds follow a slower timeline. STRF, STRK, and STRD would make their December 31 payments under the old system, then begin daily accruals on January 1, 2027.

Voting opens on or around October 5, 2026. Approval requires a majority of voting power.

That threshold comes with a notable asterisk. Michael Saylor holds approximately 32.9% of voting power through Class B shares, which gives the proposal a meaningful head start before a single outside vote is counted.

Why STRC needs a little help

STRC is no small instrument. It carries a notional outstanding amount of approximately $9.3 billion and has paid out $255 million in dividends since June 2026.

The trouble is the share price. STRC has traded below its $100 par value since May 2026 and hit a low of $71 in June, even after substantial buybacks.

Strategy’s stated goals for the switch are reducing reinvestment lag and improving liquidity in its preferreds. Reinvestment lag is the gap between when dividends accrue and when investors actually have the cash to put back to work.

The sequencing is worth watching. STRC moves first in November, while STRF, STRK, and STRD wait until January 2027. That staggered rollout effectively turns STRC into a two-month pilot.

Key dates for anyone holding these securities: voting opens around October 5, the special meeting is October 28, STRC’s daily record dates would begin November 1, and the first payment would follow on November 2.