Strategy shareholders have approved a change allowing the company’s four preferred-stock series to move to daily dividends. The new schedule starts November 1, 2026, for STRC and January 1, 2027, for STRF, STRK and STRD, subject to the required amendments becoming effective.
The change affects when dividend entitlements are recorded and how they interact with trading and settlement. It does not announce a change to the preferred shares’ stated dividend rates.
Key details
- The shareholder vote cleared the proposal: Based on preliminary results from the October 28 special meeting, the required vote was obtained to amend the terms of STRF, STRC, STRK and STRD to permit daily dividends.
- The start dates differ by series: Daily dividends are scheduled to begin for variable-rate STRC on November 1, 2026. The change is scheduled for January 1, 2027, for STRF, which carries a 10% rate; STRK, with an 8% rate; and STRD, with a 10% rate.
- A dividend record date will fall on every calendar day, including weekends and market or bank holidays. The change depends on the amended terms being filed and taking effect.
- For shares cleared through DTC, weekend and holiday record dates may be shifted: DTC will treat a record date falling on a DTC holiday as the immediately preceding day that is not a DTC holiday. On Nasdaq, the ex-dividend date—the first day a share trades without the right to a particular dividend—is generally the record date if it is a trading day, or the prior business day if it is not.
- Several daily dividends can therefore share one effective record and ex-dividend date. For example, dividends with calendar record dates of Friday, November 6, and Saturday and Sunday, November 7 and 8, 2026, would be grouped under Friday, November 6. They would be paid together on Monday, November 9.
- The trade date matters in that example: Because of the T+1 settlement cycle, someone buying shares on Friday, November 6, would not receive those three dividends; someone selling that day would still receive them.
- Treatment may differ outside the standard Nasdaq/DTC process. Shares traded on other venues, or not cleared through DTC, may follow different arrangements. Brokers’ own procedures can also affect how dividend entitlement is handled.
Plain-English implications
The change establishes a daily dividend schedule, but daily record dates will not necessarily translate into separate dividend entitlements for every calendar day when holidays and trading settlement are involved. Investors’ entitlement can depend on the trading date, venue, clearing arrangements and broker procedures.