DeFi Development's Q3 NAV Doubles as SOL Treasury Hits 2.56M; First Dividend Paid
DFDV sits 86% above its 52-week low of $2.44.
Summary
DeFi Development reported preliminary Q3 NAV per share more than doubled year-over-year, and its Solana treasury climbed to 2.56 million SOL (~$302M), an 11% increase since August 12. The company also paid its first dividend on October 1 at a floating yield of about 13% on the $10 par value of its CHAD preferred shares. A new CHAD repurchase program was announced to manage dividend costs or support the market price. These developments follow the $300M CHAD ATM program launched in September and the $11M Series C preferred offering closed earlier that month. The repurchase plan and dividend initiation mark a shift toward returning capital while continuing to accumulate SOL.
At the time of this announcement, DFDV was trading at $4.53 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $147.1M. The 52-week trading range was $2.44 to $18.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.