Market Watches Strategy’s Upcoming STRC Dividend Repricing and Ex-Dividend Event

Investors are closely tracking Strategy’s upcoming ex-dividend date as well as the monthly reset of the STRC preferred dividend rate.

Strategy (MSTR) perpetual preferred stock, STRC, dropped around 3% in Friday pre-market trading, falling below $73—about 27% under its $100 par value—as attention builds around June 30, which carries two key events.

The first is the ex-dividend date. Shareholders who own STRC before this cutoff will qualify for the next dividend payment, while those purchasing on or after June 30 will not be eligible. The date also serves as the record date, with qualifying holders scheduled to receive STRC’s first semi-monthly dividend of $0.48 per share on July 15.

In typical market behavior, a stock tends to decline by roughly the dividend amount when it trades ex-dividend. For STRC, that $0.48 payout equals less than 0.7% of its current ~$73 price—minimal compared to its recent 2–3% daily swings, suggesting the event itself is unlikely to drive meaningful downside.

The larger focus is the monthly dividend rate reset. STRC is a perpetual preferred security with no maturity date, and its dividend rate is periodically adjusted.

Strategy has kept the rate unchanged at 11.50% for four consecutive months, even as STRC trades significantly below par. With a one-month VWAP of $91.46 and the stock now near $73, the implied yield has climbed to roughly 15%, indicating investors are effectively demanding a higher return than the stated coupon.

This raises expectations for a possible increase toward the 12%–12.50% range. Still, STRC’s longer-term recovery toward par is likely to depend more heavily on Bitcoin’s performance than on incremental yield adjustments.

Meanwhile, MSTR common shares trade near $85, more than 84% below their November 2024 peak, adding continued pressure to Strategy’s bitcoin-linked capital structure.