Strategy Plans Daily Dividend Accrual for Four Preferred Stocks
The proposal covers STRF, STRC, STRK and STRD, with dividends accruing on weekends and holidays and paid the next business day.
Strategy plans to shift four preferred stock products to a daily dividend-accrual mechanism, including weekends and holidays, with payments made on the next business day.
The proposal covers STRF, STRC, STRK and STRD. The change would not alter the securities’ economic terms.
The planned adjustment is intended to support price stability, liquidity and market demand for the preferred stocks. Daily accrual would change the timing of how dividends are recorded and paid while leaving the stated economics unchanged.
The proposal was announced Sept. 25. The next business day would be used for payment under the planned mechanism.
