Leading Bitcoin finance company Strategy (MSTR) has filed a proxy statement that, if approved, would allow it to pay semi-monthly dividends on its STRC “Stretch” series preferred stock.
Executive Chairman Michael Saylor noted that the move will not affect STRC’s annual dividend obligation or dividend rate (currently 11.5%). Instead, he said: “[the] The proposed reforms aim to stabilize prices, curb cyclicality, boost liquidity and grow demand. “
The high-yield stock is so popular that its nominal value has risen to $6.4 billion as of this afternoon’s filing, according to a presentation.
Volatility has fallen to 2.1% over the past two months, compared with 13% in the series’ first eight months. But Thaler and team believe semi-monthly payments could further curb volatility.
Voting on the amendment will end on June 8, with the expected first payment date for the new program being July 15.
MSTR shares rose 11.8% alongside Bitcoin on Friday Up 3% to $77,400.
