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Strive boosts preferred dividend burden after issuing more SATA shares

Strive reported buying 1,375 BTC in the Aug. 31 to Sept. 4 window at about $79,281 per coin, and its cash-only dividend coverage stayed near 18.7 months.

Reported · Written up by our desk · Market Structure

Crypto treasury firm Strive increased its annualized preferred-dividend burden after growing its SATA preferred-share count, according to calculations based on its Sept. 8 disclosure, as higher payout estimates followed the larger share base.

At the board-set 13% dividend rate on SATA’s $100 stated amount per share, the SATA shares held as of Sept. 4 imply about $129.9 million in yearly payouts, compared with nearly $118 million based on the Aug. 28 share count. Strive added almost $12 million to its annualized dividend tab in the week as SATA shares rose from 9,073,914 to 9,995,425.

Strive also reported purchasing 1,375 BTC from Aug. 31 through Sept. 4 at an average price of about $79,281 per coin, including fees and expenses, bringing its holdings to 24,531 BTC as of Sept. 4. Over the same week, cash and cash equivalents rose by $19.1 million, from $183.5 million to $202.6 million.

Even with the cash increase, CryptoSlate’s calculations show cash-only coverage by dividing cash by the current-rate annualized dividend estimate and scaling to months was roughly unchanged at 18.71 months for Sept. 4 versus 18.67 months for Aug. 28. The filing notes the cash-only coverage ratio excludes operating needs and other liquid assets, and the company did not allocate the Bitcoin purchases to specific financing sources.

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