"Paying dividends on STRC twice a month is designed to stabilize price, dampen cyclicality, drive liquidity, and grow demand for STRC," Strategy's CEO said.

Strategy shares tumbled alongside Bitcoin on Friday as the firm's flagship preferred stock also came under pressure.

Strategy’s STRC hit a record low as Bitcoin fell below $60K, pressuring MSTR shares and its preferred stock structure.

Strategy shareholders approved semi-monthly STRC dividend payments starting with a June 30 record date and July 15 first payment under the new schedule.

"Paying dividends on STRC twice a month is designed to stabilize price, dampen cyclicality, drive liquidity, and grow demand for STRC," Strategy's CEO said.

Strategy secured approval to pay STRC dividends twice monthly as its bitcoin holdings climbed to 845,256 BTC. The move follows recent treasury activity

Michael Saylor said Monday that Strategy (NASDAQ:MSTR) shareholders had approved an amendment moving STRC preferred dividends from monthly to semi-monthly.

Strategy shareholders approved semi-monthly STRC dividends at 11.50% annualized rate. First payment is July 15, aiming to reduce ex-dividend volatility.