Strategy Inc. Preferred Stock Falls Below $98
Strategy Inc. preferred stock fell below $98 on Tuesday. The company's cash reserve for dividend payments declined to $871 million, covering 6.1 months of obligations.
BenzingaStrategy Inc. preferred stock fell below $98 on Tuesday. The decline followed public commentary on the company's bitcoin-related financing structure.
The company's USD reserve stood at $871 million as of May 31. That amount covers 6.1 months of preferred stock dividend payments. Company officials had previously stated a target above 18 months of coverage. Annual dividend obligations across four preferred stock series now exceed $1.7 billion. The reserve provided more than two years of coverage at the start of 2026.
The company withdrew $1.38 billion from the reserve to repurchase $1.5 billion of convertible debt at an 8% discount. The transaction reduced available cash for dividend coverage. Benzinga reported the reserve erosion and stock price movement.
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