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Strategy will hold a special shareholders’ meeting on Oct. 28 to vote on introducing daily dividend accruals for preferred shares including STRC, Bitcoin.com reported.
Approval requires majority support from the voting rights attached to all outstanding common shares, while abstentions or uncast votes are effectively treated as votes against. Michael Saylor, Strategy’s founder, holds 32.9% of total voting rights, meaning the proposal needs about 17 additional percentage points of support to pass. If approved, STRC holders will begin accruing daily dividends in November based on a 12% annual dividend rate. The total November dividend will be $1 per share, with actual payments made on the business day after each dividend record date.