MicroStrategy Secures 10-Month Preferred Dividend Coverage After 23% June Drop
MSTR•MicroStrategy said it has enough cash on hand to fund its preferred stock dividend for the next 10 months. The company’s preferred shares, yielding over 12%, have fallen 23% in June after breaking their $100 par value.
1. Dividend Coverage Announcement
MicroStrategy announced it holds sufficient cash to fund the dividend on its preferred stock for the next 10 months, aiming to reassure investors about distribution sustainability.
2. Preferred Stock Performance
The preferred shares, offering a yield exceeding 12%, broke their $100 par value and declined 23% in June, reflecting market concerns over payout viability.
