Strategy Shareholders Approve Daily Dividend Accrual for Four Preferred Stocks With 99.3% Support

Strategy shareholders approved an amendment letting the company's four preferred stocks accrue dividends every calendar day, including weekends and holidays, Chairman Michael Saylor said Wednesday. Preliminary results showed 99.3% of votes cast at a special stockholders meeting were in favor. The change covers the STRF, STRC, STRK and STRD preferred stocks and remains contingent on Strategy filing amended terms for each. STRC moves first, with its initial daily record date on November 1 and payment on November 2; the other three begin with a January 1 record date and payment on January 4. Strategy proposed the change last month to dampen volatility in its preferred shares, lifting STRC from 24 record dates a year to 365. STRC traded at $99.86 Wednesday, just below its $100 par value. Last week the Bitcoin treasury company paused Bitcoin buying for the first time since mid-September, spending $204.9 million to repurchase STRC instead. Strategy also faces potential removal from MSCI equity indexes under rules finalized this month, with affected companies to be published November 11.