Strive Launches Daily Dividend Payments for SATA Shares
- SATA will be the first U.S. security to pay cash dividends daily, starting June 16.
- Strive reported a first-quarter loss of $265.9 million due to a $295.8 million decline in its Bitcoin holdings.
- The firm eliminated its outstanding debt by repurchasing long-term notes.
- SATA’s annual dividend rate remains at 13%, with an effective yield projected to increase to approximately 13.88% due to daily compounding.
- Strive holds around $1.2 billion in Bitcoin, making it the ninth-largest corporate holder.
Strive is transitioning its Variable Rate Series A Perpetual Preferred Stock (SATA) from monthly to daily dividend payments, marking a significant shift in dividend distribution frequency for U.S.-listed securities. This change aims to enhance the effective annual yield of SATA shares, which debuted on Nasdaq last November.
Despite facing a substantial quarterly loss tied to Bitcoin valuation declines, Strive has managed to eliminate its debt and continues experimenting with dividend-paying products like SATA to bolster its financial strategy and stockpile growth efforts.
