DeFi Development Corp, the Solana treasury company listed on Nasdaq under the ticker DFDV, has received board authorization for a buyback plan covering its CHAD preferred shares. The authorization allows the company to repurchase up to all outstanding CHAD shares from time to time, and it also extends automatically to any newly issued shares in the future. At the same time, the company said it does not currently have an active repurchase plan in place. Its near-term focus remains getting CHAD back to roughly its $10 par value. CHAD is the company’s Variable Rate Series C perpetual preferred stock, and it currently carries a 13% annualized dividend yield. The update was carried by Techub News, citing Wu Blockchain.
DeFi Development Corp, the Solana treasury company listed on Nasdaq as DFDV, has received board authorization for a buyback plan covering its CHAD preferred shares, according to Techub News.
Under the authorization, the company may repurchase up to all outstanding CHAD shares from time to time. The scope of the authorization also automatically extends to any CHAD shares that may be issued in the future.
The company said it does not currently have an active repurchase plan. Its near-term objective remains to bring CHAD back to roughly its $10 par value.
CHAD is DeFi Development Corp’s Variable Rate Series C perpetual preferred stock and currently offers a 13% annualized dividend yield.
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