Strategy’s MSTR Gains 77.4%, Outpacing Four Preferred Stocks

Strategy’s common shares gained 77.4% from June 26 through October 23, outperforming four of its preferred stocks in a comparison highlighted by executive chairman Michael Saylor. The figures come as the bitcoin treasury company seeks shareholder approval to pay dividends more frequently across its U.S.-listed preferred securities.

Saylor shared the comparison on X on October 24, according to Bitcoin.com News. Stretch, trading as STRC, led the preferred stocks with a 38.6% return, followed by Stride, or STRD, at 35%. Strike, trading as STRK, returned 32.6%, while Strife, or STRF, returned 22.9%.

The chart’s measurement period ended at 4 p.m. Eastern time on October 23. Preferred-stock returns included dividends counted on their ex-dividend dates, without assuming reinvestment. Those figures therefore reflect both share-price performance and distributions rather than price gains alone.

Saylor attributed support for Strategy’s securities in part to its programmatic STRC repurchases. That is management’s assessment of the buybacks’ effect; the performance comparison does not establish how much of the gains resulted from repurchases rather than other market influences.

The comparison spans the period surrounding Strategy’s June 29 introduction of its Digital Credit Capital Framework. In its announcement, the company described a combination of dollar reserves, dividend management, preferred- and common-stock buybacks, and potential bitcoin sales intended to strengthen its securities while preserving long-term bitcoin exposure.

The framework initially authorized up to $1 billion in preferred-stock repurchases and a separate $1 billion common-stock repurchase program. Strategy identified STRC as its initial preferred-stock priority when management judged purchases beneficial to the capital structure. The company said buying preferred shares at substantial discounts could reduce expected dividend payments and create value for common shareholders.

Strategy also established a policy targeting a dollar reserve sufficient to cover at least 12 months of expected preferred dividends and debt interest, with board authorization required to fall below that level. Its June announcement emphasized that repurchase authorizations did not require purchases. STRC dividends likewise remain subject to declaration and are not guaranteed.

The next decision concerns payment frequency rather than an increase in annualized dividend rates. According to Strategy’s shareholder materials, its proposal would move STRC from twice-monthly dividends to daily payments and shift STRF, STRK and STRD from quarterly payments to the same daily schedule.

Under the proposed terms, dividends would accrue for every calendar day, including weekends and holidays, and be paid the following business day. Strategy says smaller, more frequent payments could reduce reinvestment delays, improve liquidity and support price stability. Those benefits remain company expectations rather than assured outcomes.

Common shareholders are scheduled to vote on October 28. If approved and adopted, STRC’s first daily record date would be November 1, with payment November 2; the other three securities would follow with record and payment dates of January 1 and January 4, 2027. If the amendments fail, Strategy says the existing dividend schedules would remain in place.