The strategy conditionally declares daily dividends when STRC is below $100

The strategy conditionally declared a daily dividend on STRC, which remained below par at $100.

Strategy Michael Seiler, the largest corporate bitcoin holder, announced a daily dividend on its STRC preferred stock for the month of November, subject to shareholder approval and related amendments.

The company's board of directors declared a cash dividend for each calendar day from November 1 to November 30, with payment beginning on November 2. According to the Form 8-K filed with the Securities and Exchange Commission, any dividend will be payable on the business day following its record date.

STRC's annual interest rate will remain at 12% in November. Management said it would maintain that rate until the stock shows "stable and healthy trading near $100 per share."

A daily dividend could make STRC more attractive to investors and help it trade closer to its $100 face value. STRC is one of the main strategy fundraising tools for buying Bitcoin (BTC).

STRC was down 0.2% at $99.32 as of 1:36 PM UTC on Friday, according to Yahoo Finance.

Last week, Strategy added 250 bitcoins for $21.5 million, bringing its total holdings to 848,250 bitcoins. In the week ending Oct. 4, the company repurchased $176 million worth of STRC, spending more than six times more than its $28 million purchase in Bitcoin.

On June 29, Strategy introduced a capital framework that allows the sale of Bitcoin to fund dividends and increased STRC's annual dividend rate to 12%.