Strive’s SATA to Pioneer Daily Cash Dividends for U.S. Listed Securities
Strive’s SATA to become first U.S. listed security to pay daily cash dividends
Coindesk
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Strive's SATA will be the first U.S. listed security to pay daily cash dividends starting June 16, offering an effective yield of 13.88%. The company has eliminated all debt and holds 15,009 bitcoins, making it the ninth largest corporate bitcoin holder globally.
- 01SATA will pay cash dividends every business day starting June 16.
- 02The effective yield increases to approximately 13.88% due to daily compounding.
- 03Strive has eliminated all outstanding debt, holding 15,009 bitcoins.
- 04The daily payout structure is a significant innovation in U.S. capital markets.
- 05Strive's shares have increased by about 10% this year.
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Strive's preferred stock, SATA, will become the first U.S. listed security to offer cash dividends every business day starting June 16. This innovative structure raises the effective yield to 13.88%, up from the stated annual rate of 13%, due to more frequent compounding. The company has successfully eliminated all outstanding debt and now holds 15,009 bitcoins, making it the ninth largest publicly traded corporate bitcoin holder globally. CEO Matthew Cole described this daily dividend structure as a 'zero-to-one innovation,' designed to compete with traditional money market alternatives. Despite a 10% increase in share value this year, Strive's stock saw a nearly 8% decline in pre-market trading following missed earnings forecasts. The company's shares are structured similarly to those of Strategy's Stretch (STRC), allowing for cash generation to further bolster its bitcoin holdings.
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