According to Woofun AI, Strategy (MSTR.US) held a special meeting on October 28 where shareholders approved key amendments to the company's charter with an overwhelming 99.3% voter turnout, formally permitting its four series of preferred stock—designated as STRF, STRC, STRK, and STRD—to implement a daily dividend accrual plan.
This structural change, initially confirmed by Executive Chairman Michael Saylor through the X platform, marks a decisive step for the company in optimizing its capital structure and shareholder return mechanisms.
The core of this resolution lies in breaking the traditional U.S. stock market convention of settling dividends only on business days, extending the dividend accrual period to all 365 days of the year including weekends and statutory holidays, thereby providing holders with a more continuous income stream.
According to filings submitted to the U.S. Securities and Exchange Commission (SEC), each calendar day is defined as a record date, while the corresponding dividend payments are deferred to the next business day for settlement—a mechanism design that directly changes the value anchoring method of the preferred stock.
Woofun AI compiled data showing that the implementation of this daily dividend plan is strictly divided into two phases to ensure a smooth technical transition.
The STRC series serves as the first pilot, with its first daily record date set for November 1, and the first dividend payment to be settled on November 2; while the STRF, STRK, and STRD series will launch later, formally entering the daily dividend track starting January 1, 2027, with the first payments expected on January 4, 2027.
Notably, because the Depository Trust Company (DTC) and Nasdaq technically treat weekend or holiday record dates as the preceding business day, investors need to be aware of the ex-dividend date determination logic.
Taking November 6 as an example, the three days of dividends generated on Friday, Saturday, and Sunday will be consolidated into the November 6 record date and paid together on Monday, November 9.
This means investors who purchase STRC shares during the November 6 trading session will not receive the three dividends from that period, while those who sell on the same day will be entitled to receive the full accumulated dividends—a rule that imposes new compliance and technical coordination requirements on short-term trading strategies.
This dividend system restructuring is not an isolated event but part of Strategy's (MSTR.US) combined approach to address stock price volatility and external regulatory pressure.
For STRC shares, the company has completely transformed the traditional system of 24 record dates per year into a fixed arrangement of 365 record dates annually, aiming to smooth price fluctuations through high-frequency cash flow distributions.
As of the report's publication, STRC was trading at $99.86, slightly below its $100 par value, indicating market expectations for a return to value.
To support this objective, Strategy (MSTR.US) has undertaken rare capital operations over the past week: it paused its regular direct Bitcoin purchase plan for the first time since mid-September, instead deploying $204.9 million to directly repurchase STRC shares on the open market.
This shift in capital flow clearly demonstrates management's strategic intent to prioritize stabilizing preferred stock prices over simply expanding Bitcoin holdings during this specific period.
A deeper driving force stems from increasingly stringent review standards by global index compilation agencies.
Financial data giant MSCI (MSCI.US) updated its MSCI Global Investable Market Index inclusion rules on October 15, explicitly excluding non-operating companies or those whose balance sheets are primarily composed of a single asset.
This new rule directly targets Strategy (MSTR.US) as the world's largest Bitcoin-holding company, posing a potential threat to its institutional capital inflow capacity.
According to MSCI's (MSCI.US) official timeline, the final list of companies affected by this rule will be published on November 11, at which point whether Strategy (MSTR.US) will be removed will become a market focus.
Against this backdrop, enhancing the stock's cash flow appeal through daily dividends, supplemented by large-scale buybacks to stabilize the share price, is viewed as a key defensive measure for Strategy (MSTR.US) to convey confidence to the market and maintain liquidity while facing index removal risk.
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