Strategy allocated far more capital to repurchasing its STRC preferred stock than to buying Bitcoin last week. According to an 8-K filed Monday with the US Securities and Exchange Commission, the company bought 334 BTC for $28.7 million between Monday and Sunday, lifting its total holdings to exactly 848,000 BTC. Over the same stretch, it spent $176.3 million to repurchase about 1.77 million shares of STRC, a sum that was more than six times larger than its Bitcoin buying outlay.
The filing came alongside a separate proxy in which Strategy asked shareholders to approve a change to dividend payment schedules across its preferred-stock lineup. The company wants STRC, STRF, STRK and STRD to pay regular dividends every business day instead of STRC’s current twice-monthly schedule and quarterly payments for the other three securities. Strategy said the proposal would not alter dividend rates or total payment obligations, but it could reduce reinvestment delays and support liquidity and price stability. Shareholders are set to vote at a special meeting on Oct. 28. If approved, daily payouts for STRC would begin in November, with STRF, STRK and STRD following in January.
Strategy spent much more on repurchasing STRC preferred shares than on buying Bitcoin last week.
In an 8-K filed Monday with the US Securities and Exchange Commission, the company said it bought 334 Bitcoin (BTC) for $28.7 million between Monday and Sunday. That brought its total holdings to exactly 848,000 BTC.
During the same period, Strategy repurchased about 1.77 million shares of its STRC preferred stock for $176.3 million. The amount was more than six times larger than what it spent on Bitcoin purchases over the week.
Cointelegraph said the capital allocation came as Michael Saylor’s Strategy moved to expand the role of preferred securities in funding and managing its Bitcoin treasury strategy. The company said it will seek shareholder approval to revise dividend payments across its preferred-stock lineup.
Strategy seeks daily dividend payments for preferred shares
In a separate proxy filed Monday, Strategy asked shareholders to approve regular dividend payments on STRC, STRF, STRK and STRD every business day. That would replace STRC’s current twice-monthly schedule and the quarterly payment structure used for the other three preferred stocks.
The company said the proposal would not change dividend rates or its overall payment obligations. It added that the change could shorten reinvestment delays and improve liquidity and price stability.
Shareholders will vote on the proposal at a special meeting on Oct. 28. If it passes, STRC would move to daily payments in November, while STRF, STRK and STRD would follow in January.
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