Michael Saylor Proposes Daily Dividend Payouts for MicroStrategy Preferred Shares

MicroStrategy Executive Chairman Michael Saylor is seeking to adjust the dividend payout mechanism for the company's preferred shares, proposing a shift from semi-monthly or quarterly payments to daily payments. The securities offer an annualized yield of up to 12%. Saylor stated that this change aims to improve liquidity and market efficiency. With over $14 billion in preferred shares currently in circulation, the proposal is expected to pass given Saylor's significant stake. The shareholder vote is scheduled to conclude on October 28.