Strategy (MSTR), the leading Bitcoin treasury company, has proposed moving the dividend payment schedule on its perpetual preferred stock, Stretch (STRC), from monthly to bimonthly.
The amendment, outlined in Strategy’s investor presentation, would keep the annualized dividend rate at 11.5% and total annual obligations unchanged (currently $1.2 billion). Holders would receive payments approximately every two weeks instead of once a month, with the first biweekly payment expected on July 15, after the June 8 shareholder vote.
According to Strategy’s presentation, STRC is currently experiencing an average decline of $0.45 after the ex-dividend date (the deadline to own a stock to receive a dividend), with the return to its par value of $100 taking approximately two weeks. Typically, on the ex-dividend date, the stock price falls approximately by the amount of the dividend payment.
When STRC is trading below its par value of $100, Strategy cannot issue shares through its at-the-market (ATM) program to raise funds for bitcoin purchases. By smoothing price action, the company aims to keep STRC closer to par, allowing for more consistent capital raising.
Biweekly payments should reduce this volatility and lag.
More regular bitcoin purchases
More frequent payments would also reduce reinvestment lag and spread purchasing pressure more evenly across the month, allowing Strategy to purchase bitcoin at a more regular pace and maintain consistency of purchases.
According to the presentation, this change aligns with the typical bi-monthly payroll cycle in the United States and creates more entry and exit opportunities for shareholders, all aimed at reducing volatility.
Historical STRC volatility averaged 13% from August 2025 to March 2026, but fell to just 2% between March and April 2026, according to Strategy data.
If approved, STRC would become the only preferred biweekly dividend in the market, compared to 921 that pay quarterly dividends and 32 that pay monthly, the company said. Nasdaq rules require at least 10 calendar days between the declaration of the dividend and the record date.
STRC recently fell below $99 after the April 15 ex-dividend date, a drop of more than $1, consistent with the volatility the company aims to reduce.
Disclosure: The author of this story owns shares in Strategy (MSTR).
Read more: The One Metric Investors Overlook in Michael Saylor’s Strategy
