STRC dividends, rate history and the daily-payment proposal

What is STRC?

STRC is Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock. It is preferred equity in the company. It does not give its holder ownership of specific bitcoin, and it is not a bank deposit or money-market fund. “Perpetual” means it has no scheduled maturity at which holders are promised repayment. Source: Q2 2026 Form 10-Q.

The regular dividend rate is applied to the $100 stated amount, not to the price an investor pays on an exchange. Strategy reported keeping the annual rate at 12.00% for semi-monthly periods commencing on or after October 16, 2026. A stated annual rate is different from an investor’s yield at a particular purchase price. Source: October 1 filing.

The November dividend has a condition

The October 31, 2026 declared dividend is $0.50 per share, with an October 15 record date. It does not depend on the proposed daily-dividend change. The November 15 semi-monthly dividend, also $0.50 per share, is different. Source: October 1 filing.

That November semi-monthly payment will not be payable if both the amendments are approved by the stated deadline on October 31 and the amended STRC certificate becomes effective by 12:01 a.m. Eastern on November 1, 2026. Under that scenario, the company intends to declare daily dividends, subject to board approval. Approval of the shareholder proposal by itself is not the only condition.

What the October 28 vote would change

Common stockholders are being asked to approve amendments affecting STRF, STRC, STRK and STRD at the special meeting scheduled for October 28, 2026 at 10 a.m. Eastern. STRE is outside this proposal. The proposal concerns payment frequency and related terms; it does not itself increase the regular dividend amounts or rates. Sources: September 25 and October 1 filings.

If approved and made effective, and subject to declaration, the expected first payment under the daily schedule is November 2, 2026 for STRC, and January 4, 2027 for STRF, STRK and STRD. A record date each calendar day would have its payment on the next business day. This is a proposal as of October 2, 2026, not an implemented schedule. Source: September 25 filing.

A $100 objective is not a guaranteed price

Strategy describes trading near STRC’s $100 stated amount as an objective. Its Q2 2026 report explicitly warns that it may not achieve that objective and can change its policy. The company can review the rate and repurchase shares, but neither action guarantees a market price. Source: Q2 2026 Form 10-Q.

A filing-based comparison shows repurchases below the objective: during August 17–23, 2026, the company reported an average repurchase price of $95.30 in its August 24 investor briefing. During September 21–27, dividing $151.7 million by 1,534,530 shares gives approximately $98.86 per share. This latter value is our calculation from rounded filing figures, not a quoted closing price or a live market feed. Source: September 28 filing.

What funds the dividend?

The Q2 2026 report lists several potential sources: USD Reserve cash, bitcoin sales, common and preferred ATM proceeds, and other financing. The source can vary over time. The reserve is part of the company’s capital framework; it does not make STRC a secured claim on individual bitcoin. Source: Q2 2026 Form 10-Q.

For September 21–27, 2026, the company reported using $22.1 million of its USD Reserve to pay preferred dividends and ending the period with a $5.02 billion reserve. Source: September 28 filing.

Tax language is an expectation

As of October 1, 2026, Strategy expected the announced October and conditional November distributions to be treated as returns of capital to the extent of a holder’s tax basis for U.S. federal income tax purposes. This is the company’s stated expectation for those distributions, not a promise about every holder or future payment. Tax consequences depend on the holder’s circumstances. Source: October 1 filing.

Compare the security’s place in the capital structure on the preferred-stock page.