On a filing with the U.S. Securities and Exchange Commission, Strategy Inc. – the firm led by Michael Saylor that holds the largest corporate Bitcoin reserve – disclosed a plan to issue cash dividends each calendar day throughout November. The board set the record date for every dividend from November 1 to November 30, with the first payment slated for November 2. Each payout will be settled on the business day following its record date, as outlined in a Form 8-K filing.
Daily payouts tied to a 12% annualized rate
The company said the annualized dividend rate will stay at 12% for the entire month. Management indicated it will continue to recommend this rate until the STRC preferred stock exhibits “sustained, healthy trading near $100 per share,” the stated par value of the security. By delivering a dividend every day, Strategy hopes to make the preferred share more attractive to income-focused investors and to reinforce price stability around the $100 benchmark.
Buybacks accelerate as price nears the $100 mark
During the two weeks ending October 11, Strategy poured roughly $369 million into repurchasing STRC shares while allocating only $50 million toward Bitcoin purchases – a spending ratio of about 7 to 1. From September 28-30, the firm bought 1,033,168 shares for $102.6 million at an average of $99.31 each, with no Bitcoin acquired in that window. Between October 1-4, it snapped up 740,634 shares for $73.7 million (average $99.51) and added 334 BTC for $28.7 million. The pace quickened further Oct 5-11, when 1,932,145 shares were bought for $192.4 million at $99.58 on average, alongside a 250-BTC purchase costing $21.5 million.
These repurchases pushed the market price to $99.32 as of 1:36 pm UTC on a recent Friday, a modest 0.2 % decline from the prior close. Earlier, on October 12, the share closed at $99.88 – its strongest finish since May 14, 2026. The surge reflects a strategic shift: earlier in July the company pledged to buy more aggressively only when the stock traded well below $100, yet recent SEC filings reveal that buyback activity intensified precisely as the price approached that threshold, prompting debate among analysts about the consistency of the policy.
Impact on dividend obligations
Retiring STRC shares also trims the company’s cash outflow. Each preferred share carries a $12 yearly dividend (derived from the 12% rate on a $100 par). By eliminating roughly 3.7 million shares, Strategy could shave about $44.5 million off its annual dividend bill – a tangible savings that reinforces the urgency of the buyback program.
Bitcoin treasury remains the core asset
Even as capital flows shift toward the preferred stock, Strategy’s Bitcoin treasury continues to expand. The latest acquisition added 250 BTC for $21.5 million, bringing the total holding to 848,250 BTC. Across the entire reserve, the average purchase price sits at $75,444 per Bitcoin, while the spot price at the time of reporting hovered near $83,300, up 0.51 %. Notably, the most recent batch of 250 coins was bought at an average of $86,194 each – a premium to the current market, a fact Michael Saylor publicly dismissed by asserting that the bears were “under control.”
During the week ending October 4, the firm repurchased $176 million worth of STRC, spending more than six times the amount it allocated to Bitcoin purchases ($28 million) in the same period. This demonstrates a deliberate rebalancing of capital: the preferred-stock vehicle remains the primary fundraising channel for future Bitcoin buys, while the dividend policy provides a steady revenue stream for shareholders.
Key dates on the horizon
Investors should mark three imminent events that could shape Strategy’s next moves. On October 15, the company will record a $0.50-per-share dividend payable on October 31, also serving as the trigger date to propose November’s daily payouts pending shareholder approval. A special stockholder meeting is slated for October 28, where investors will vote on adopting the daily-dividend mechanism. Finally, upcoming SEC filings early next week are expected to reveal whether the aggressive buyback pace will be moderated now that STRC hovers near its $100 par value.
With roughly $355 million left in its preferred-share repurchase pool as of October 11 – down from $621 million on September 30 – the company could exhaust its authorized buyback budget in less than two weeks if it continues to spend near $192 million per week. The combination of daily dividends, a shrinking buyback allowance, and a robust Bitcoin position creates a dynamic financial landscape that will keep analysts watching closely.
