Strategy’s dividend-paying preferred STRC closes at $91.79, nearly 8% below its $100 par value

Strategy’s dividend-paying preferred stock STRC closed at $91.79 on Tuesday, marking its third-lowest close since trading began in July 2025 and leaving it nearly 8% below its intended $100 par value. The security has stayed under par as bitcoin remains weak and investors question how well dividends are covered after the company used cash to repay $1.5 billion of convertible debt. At the same time, demand has shifted toward Strive’s competing SATA preferred, which offers a higher yield, daily dividends and a debt-free capital structure, according to CoinDesk.