Strive’s SATS preferred stock pays its first daily dividend

Strive official logo (strive.com)

The Bitcoin treasury firm's 15% fixed-rate preferred now sends cash to holders on a business-day schedule

Mon 9 Nov 2026 · 11:45 EST · 3 min read

In Stocks

Strive’s Series A Perpetual SATS Preferred Stock has paid its first daily dividend. The payout delivers on the security’s central promise: income that accrues every business day.

Most dividend payers make shareholders wait a quarter between checks. Strive, a Bitcoin treasury company listed on Nasdaq under ASST, built SATS to pay on a business-day schedule.

How the SATS payout works

Strive’s board announced the inaugural dividend on October 21, 2026. It set the amount at $0.8710 per share, covering a period of 14 business days, with a payment date of November 9, 2026.

The math behind that figure comes from a fixed annual dividend rate of 15%. That rate applies to a $100 stated amount per share, which works out to $15 a year, or $1.25 a month.

Payments are made in cash on each business day. They remain contingent on the board declaring them and on Strive having funds available to pay.

The shares carry a few other features worth knowing:

• Cumulative: any dividends that go unpaid keep accruing rather than disappearing.

• Non-convertible: holders cannot swap SATS into common stock.

• No voting rights: investors get income, not a say in how the company is run.

A $630 million raise with a built-in cushion

The dividend follows a large capital raise. Strive sold 7 million SATS shares at $90 each, bringing in $630 million in gross proceeds. The offering closed on October 20, 2026, and was upsized from its initial target.

Buying at $90 a share against a $100 stated amount boosts the return. At the offering price, the effective yield comes to about 16.7%. Where the shares have been trading, the yield sits closer to approximately 15.9%.

At closing, Strive set aside an 18-month cash dividend reserve of $22.50 per share. That totals approximately $157.5 million earmarked to support dividend payments.

Strive has said the offering proceeds are intended for general corporate purposes, with Bitcoin acquisitions a particular focus.

Where SATS fits in Strive’s capital stack

SATS is not Strive’s first preferred stock. The company previously issued SATA, a preferred stock with a variable dividend rate.

SATA ranks senior to SATS. SATS, in turn, ranks senior to Strive’s common equity. If the company ever had to prioritize who gets paid, SATA holders would come first, SATS holders second, and common shareholders last.

Strive’s combined preferred dividend commitments total around $287 million annually. On the asset side, Strive held roughly 43,124 BTC as of late October 2026.

Why the daily dividend matters

For investors, the trade-off is clear once you lay it out. SATS offers a high fixed yield, cumulative protection on missed payments, and a cash reserve covering the first 18 months. In exchange, holders give up voting rights, have no conversion upside, and sit behind SATA in the payment order.

Strive’s approach also signals how Bitcoin treasury companies are evolving. Rather than relying only on common stock sales, firms like Strive are layering different classes of preferred equity, each with its own rate structure and seniority. SATA offers a variable rate. SATS offers a fixed one, paid daily.

The first payment is a modest $0.8710 per share. The structure behind it represents a sizable bet that investors will pay up for daily income backed by a Bitcoin balance sheet.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.