finance
Strive to Begin Paying Daily Cash Dividends on SATA Preferred Shares Starting June 16
Strive Asset Management announced its Variable Rate Series A Perpetual Preferred Shares will become the first U.S. listed security to pay cash dividends daily, lifting the effective yield to 13.88%. The company has retired all debt and holds 15,009 bitcoin, ranking ninth globally among public companies by bitcoin treasury. CEO Matthew Cole described the structure as a 'zero-to-one innovation.'
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U.S. listed security to do so. The stated annual dividend rate for SATA remains 13%.
6 basis-point improvement over monthly payment structures. The increase in yield comes from more frequent compounding across roughly 250 business days per year.
U.S. Capital markets to pay cash dividends every single Business Day," Cole said in a statement on Thursday. Strive has retired all outstanding debt. The company now carries zero short or long-term debt obligations, with no margin requirements and no encumbered bitcoin.
Strive currently holds 15,009 bitcoin. It ranks as the ninth-largest publicly traded company globally by bitcoin treasury holdings. SATA is structured similarly to Strategy’s (MSTR) equivalent, Stretch (STRC).
Trading above par allows Strive to issue more shares through an at-the-market (ATM) sales channel to raise cash for bitcoin holdings. Strive's shares have risen about 10% this year.
88% as the company eliminates all debt and expands its bitcoin treasury strategy, CoinDesk reported.
