Foresight News reports, according to an SEC filing, that Strategy announced that, subject to the dividend conditions being met, the annualized regular dividend rate for its floating-rate Series A perpetual preferred stock, STRC, on the November record date will be 12%. Strategy’s board of directors also announced cash dividends on STRC for each calendar day from November 1 through November 30, payable on the next business day after the record date, totaling $1 per share for November.

The daily dividend payments described above are subject to two conditions: shareholders must approve the amendment providing for daily dividends at a special meeting on October 28, and the relevant certificate of designation must take effect before 12:01 a.m. ET on November 1. If these conditions are met, the STRC dividend originally scheduled for payment on November 15 will not be paid. If they are not met, daily dividends will not take effect, the November 15 dividend will be paid as usual, and dividends will continue at the current twice-monthly frequency. Strategy previously stated that management would recommend that the board maintain STRC’s annualized dividend rate at 12% until STRC trades steadily around $100 per share.