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Strategy Battles for Par on STRC,
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Strategy Battles for Par on STRC,
Strategy Battles for Par on STRC, Lifting Dividend to 10.75%
Strategy Battles for Par on STRC, Lifting Dividend to 10.75%
The company lifted STRC’s payout after the preferred stock again slipped below its $100 par value.
By James Van Straten|Edited by Stephen Alpher
Dec 3, 2025, 3:37 p.m.
STRC (MSTR Investor Presentation)
What to know:
- Strategy (MSTR) raised the dividend on its STRC preferred series by 25 basis points to 10.75%, the third such raise since the product was introduced.
- The company's aim is to keep STRC's price in a very narrow range around the $100 level, but the combined recent difficulties in both MSTR and bitcoin spread to STRC, which dipped into the mid-$90 range.
- Strategy on Monday announced $1.44 billion cash buffer to support preferred dividend payments for nearly two years.
Strategy (MSTR) on Monday announced a further 25 basis point increase in the dividend rate of its STRC preferred series to 10.75%. This is the fourth increase since the IPO launch at the end of July.
One of Strategy’s perpetual preferred stocks, STRC, or "Stretch," is designed to offer short duration characteristics with high yield exposure. It currently pays a 10.75% annual dividend, distributed monthly in cash. The dividend rate is adjusted each month to encourage trading near STRC’s $100 par value and to limit price volatility.
STORY CONTINUES BELOW
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When launched in July, STRC initially carried a 9% dividend rate at the IPO price of $90. The company then raised the dividend rate twice to 10.25%, although STRC still did not reach par. A third increase finally got the price to $100, but the tumble in the price of bitcoin and Strategy's common stock touched STRC, which at one point in the November panic fell as low as about $90, setting in motion this latest increase.
STRC was trading at $98.43 at press time.
The updated dividend rate was announced along with news of a $1.44 billion cash buffer intended to fund perpetual preferred dividends. The total annualized dividend obligation across all perpetual preferred shares is about $800 million. According to the investor presentation, the company has 74 years of dividend coverage when measured against its $59 billion bitcoin reserve. Even so, the $1.44 billion cash reserve is expected to be the primary source of near term dividend funding.
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