Bitcoin treasury company Strategy is seeking shareholder approval to pay daily dividends on four of its US-listed preferred stocks — STRC, STRD, STRF and STRK — including STRC, which moved from monthly to semi-monthly payments less than three months ago, according to The Block. Strategy's board approved the proposal on September 24, per an 8-K filing with the Securities and Exchange Commission on Friday. Under the proposed terms, the four would have a dividend record date every calendar day, including weekends and holidays, with any declared dividend paid the next business day. The plan does not change the dividend rates or increase Strategy's total regular dividend obligations. STRC would switch first, with an initial record date of November 1 and payment the following day if shareholders approve, and STRF, STRD and STRK would follow in January.

"The proposed changes aim to support price stability, liquidity, and demand," co-founder and Executive Chairman Michael Saylor said on X. Shareholders previously approved moving STRC to semi-monthly dividends in June, when CEO Phong Le said paying twice a month was meant to stabilize its price, improve liquidity and give holders a faster chance to reinvest. STRC, a variable-rate perpetual preferred designed to trade around a $100 par value, closed down 0.6% at $98.31 on Thursday, having earlier plunged below $75 in June. After that drop, Strategy introduced a $1 billion preferred-stock repurchase program prioritizing STRC, then doubled the authorization to $2 billion this month.

The four securities form the core of what Strategy calls its "Digital Credit" platform, and the company said more frequent payments could make the preferreds more attractive and support its ability to raise preferred equity for its bitcoin treasury strategy. "Strengthening our preferred securities would create a competitive advantage for Strategy and increased demand could drive amplification and bitcoin per share," it said. Strategy has scheduled a virtual special meeting for October 28; approval requires a majority of the voting power of its outstanding common stock, and holders of STRC, STRD, STRF and STRK do not vote. If approved, the changes would take effect after Strategy files amended certificates of designation in Delaware.