Strategy Amends STRD Preferred Terms: Daily Dividends From January 2027, $4.13B ATM Stands
MSTR sits 62% above its 52-week low of $81.81.
Summary
Strategy amended its 10.00% STRD preferred terms to pay dividends daily instead of quarterly beginning January 4, 2027, with the $4.13B at-the-market program unchanged and dividends expected to be funded largely by selling more class A stock.
Key Events · Financing and Capital Events · MSTR
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STRD Dividends Move to Daily
An amended and restated certificate of designations, effective 12:01 a.m. ET January 1, 2027, changes regular dividends on the 10.00% Series A Perpetual Stride Preferred from quarterly to each business day, with the first payment on January 4, 2027.
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Rate and Non-Cumulative Terms Unchanged
The 10.00% annual rate on the $100 stated amount, board discretion and non-cumulative character are unchanged; the final quarterly dividend, if declared, pays December 31, 2026.
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Dividends Funded by More Stock Sales
The filing states Strategy expects to fund cash dividends primarily through additional capital raising, including at-the-market offerings of class A common stock — roughly $413M a year at the full $4,133,799,112.67 program size.
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Record-Date Mechanics Shift
From January 1, 2027 every calendar day is a record date; weekend and holiday record dates are deemed by DTC to fall on the prior trading day, so buyers on that Friday forgo three days of dividends while sellers keep them.
Analysis · MSTR · Crypto Assets
Strategy is converting its 10.00% Series A Perpetual Stride Preferred from quarterly to daily dividend payments starting January 4, 2027, following the stockholder vote on October 28 and the certificate filing on October 29. The rate, discretionary nature and non-cumulative character are unchanged, so the annual cash cost is the same — roughly $413M on the full $4.13B program — but the payment mechanics change materially for holders: record dates become every calendar day, and weekend/holiday dividends collapse onto the preceding DTC record date, which can shift who captures a dividend around a purchase or sale. The bigger structural point is funding: the filing states Strategy expects to pay these cash dividends primarily by raising more capital, including at-the-market sales of class A common stock. That ties the preferred's 10% coupon directly to ongoing MSTR share issuance, so the preferred sits alongside the ATM common program as a recurring dilution channel rather than a one-time raise.
How filings like this one have moved
In the 30 days to Nov 2, 2026, 32.7% of the 1910 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MSTR was trading at $132.33 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $55.1B. The 52-week trading range was $81.81 to $276.32. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.