Strive’s SATA preferred shares to pay daily cash dividends
Strive reported a first-quarter loss of $265.9 million due to a decline in Bitcoin holdings.
The firm’s Variable Rate Series A Perpetual Preferred Stock, SATA, will start paying daily cash dividends on June 16.
This change is expected to increase SATA’s effective annual yield to 13.88% from 13%, despite the stated annual dividend rate remaining unchanged.