Michael Saylor, executive chairman of Strategy (MSTR), said the largest public traded holder of bitcoin increased the dividend rate on its preferred stock, Stretch (STRC), by 25 basis points to 11.25% for February.
Strategy describes Stretch (STRC) as a short-duration, high-yield savings account. The increase is the sixth since STRC first traded in July 2025.
STRC is a perpetual preferred stock that pays monthly cash distributions, with the dividend rate set each month to encourage trading near its $100 par value and to limit price volatility. STRC closed at $98.99 on Friday, slightly below par.
Strategy has raised $2.25 billion in reserves to fund dividend obligations on its perpetual preferred offerings, which total approximately $887 million annually, according to the company’s dashboard.
The announcement on X comes after bitcoin slid below $76,000 on Saturday, briefly pushing Strategy’s average bitcoin cost basis underwater. The largest cryptocurrency has since rebounded and was recently trading near $78,000.