MicroStrategy (MSTR) has filed a shareholder proxy that would shift payments on its popular STRC “Stretch” series of preferred stock from monthly to semi-monthly — a move the bitcoin-focused treasury firm says is designed to calm trading dynamics and boost liquidity without changing the payout rate.
The proposed amendment would not alter the series’ annual dividend obligations or its current 11.5% dividend rate, MicroStrategy Executive Chairman Michael Saylor stressed. Instead, Saylor said the goal is to “stabilize price, dampen cyclicality, drive liquidity, and grow demand,” by making distributions more frequent and predictable.
STRC has become a major fixture in crypto-focused income plays: outstanding notional value climbed to $6.4 billion as of the company’s filing. MicroStrategy’s presentation also highlights a sharp drop in volatility for the security — from about 13% during the first eight months after the series launched to roughly 2.1% over the past two months — and argues that moving to semi-monthly payments could further reduce price swings.
Shareholders will vote on the amendment through a June 8 deadline, and if approved the company expects the first semi-monthly payment to be made on July 15.
The news coincided with strong market moves for MicroStrategy and bitcoin: MSTR shares jumped 11.8% on Friday as bitcoin rose roughly 3% to about $77,400. For investors, the proposal represents an operational tweak aimed at smoothing cash flows and potentially making STRC more attractive to yield-seeking traders and institutions.
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