Key Notes
- STRC touched its $100 stated amount on November 4 for the first time since May.
- Daily dividend record dates began November 1 with a 12% annualized rate.
- Unused STRC issuance capacity is separate from cash raised or confirmed new Bitcoin purchases.
Strategy’s STRC preferred stock touched $100 on November 4 for the first time since May, according to Bitcoin Magazine. The return to its $100 stated amount puts renewed attention on a financing channel that can help fund the company’s Bitcoin purchases.
The milestone came after substantial share repurchases and the introduction of daily dividend record dates. STRC’s November dividend rate remains 12% annualized, with the month’s declared payments totaling $1 per share.
Why $100 Matters for Bitcoin Funding
Bitcoin Magazine reported that the recovery restores the price level at which Strategy is prepared to resume issuing STRC. Its at-the-market, or ATM, program allows new shares to be sold into the market over time, with proceeds available to support its treasury strategy.
A price touching $100 does not establish that issuance has restarted. Actual sales, their net proceeds and subsequent Bitcoin purchases require separate disclosures.
The company’s November 2 SEC filing showed approximately $17.51 billion of remaining STRC issuance capacity as of November 1. That figure is authorization available for future sales, rather than cash already raised or a commitment that investors will buy the entire amount.
Strategy reported no new STRC sales during October 26–November 1. Its latest Bitcoin purchase was instead funded by MSTR common-share proceeds, illustrating the distinction between its different financing instruments.
Daily Payments Preserve the Declared November Amount
Shareholders approved the dividend amendments on October 28. An October 29 filing confirmed that STRC’s amended terms would take effect at 12:01 a.m. Eastern time on November 1, moving the security from twice-monthly distributions to daily record dates.
The new schedule includes weekends and holidays, but declared dividends are payable on the following business day. Several daily entitlements can therefore arrive together. Strategy’s example groups November 6–8 dividends into a November 9 payment.
Its November declaration divides the $1 total into daily amounts of three or four cents. More payment dates do not increase the declared monthly amount or turn the annualized rate into a daily return.
CoinScreamer’s earlier dividend coverage examined the conditions before the vote. Those approvals and effective-date requirements are now distinct from the board’s decisions on future dividend rates.
Buybacks Continued Before the Price Recovered
The November 2 filing recorded 2,092,035 STRC shares repurchased for $208.2 million during October 26–November 1, funded from Strategy’s USD Cash account. Bitcoin Magazine put cumulative STRC buybacks at roughly $2.25 billion.
Those purchases followed the company’s buyback expansion in October. Repurchasing preferred shares consumes cash; issuing new shares brings in funding while adding dividend obligations.
Strategy’s product terms describe STRC as variable-rate perpetual preferred stock, with dividends calculated against the $100 stated amount. Its market price can differ from that reference, and the rate remains subject to monthly adjustment. The return to $100 is a financing milestone, rather than a guarantee of future prices or distributions.
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