Strategy leaves preferred STRC dividend at 12% as price still below par

While Strategy’s preferred STRC shares ended July well below their $100 par value, investors were told that their August dividend will not increase, holding at 12%.Executive chairman Michael Saylor delivered the news in a tweet on Saturday, continuing to pitch STRC as a way to “stretch your income.” August will be the second month that the dividend will be paid semi-monthly after shareholders approved that change in June.STRC shares closed at $89.46 on Friday, clocking a 5.42% price increase for the month which began with a dividend hike — 50 basis points to 12% — after a poor stock performance in June. The volume on the Nasdaq-traded shares on Friday were about two-thirds of their daily average. STRC shares continued to trade significantly below their $100 par value in July.Source: TradingViewOn Friday, Strategy CEO Phong Le reiterated that management’s “corporate objective is for STRC to trade at $99-$100 over time,” without elaborating when investors might expect that to transpire. Related: Bitcoin ETFs end July in the green despite late-month sellingBuilding cash reserve to make preferred payoutsSaylor, however, did take to social media on Sunday to dangle the possibility that ...