MicroStrategy Approves Daily Dividends. Will Bitcoin Buying Return?

Michael Saylor’s Strategy, formerly MicroStrategy, won shareholder approval on Wednesday, October 28, for an amendment to pay dividends daily across four preferred stocks, with 99.3% of votes cast in favor. Holders of those preferred shares will receive smaller, more frequent payments while annual dividend rates stay the same. The flagship Stretch (STRC) stock, which offers a 12% annual dividend, begins daily accrual on November 1, and three other preferred stocks follow in January subject to final implementation. The company holds 848,517 bitcoin and bought none between October 19 and 25, when it spent $204.9 million repurchasing STRC shares; it had $242.4 million in unrestricted operating cash as of October 25.