Strive’s Preferred Dividend Obligation Rises by $12 Million After Issuing Nearly One Million New Shares to Purchase Bitcoin

Strive, a publicly traded Bitcoin treasury company, increased its annualized preferred‑dividend liability by almost $12 million in a single week after issuing close to one million additional SATA preferred shares.

Share Issuance and Dividend Impact

Between August 28 and September 4, the count of SATA shares rose from 9,073,914 to 9,995,425, an increase of 921,511 shares. SATA is a variable‑rate perpetual preferred equity with a dividend rate set at 13% of the $100 stated value, equating to $13 per share annually. Applying this rate to the updated share count raises the estimated yearly payout to roughly $130 million, up from about $118 million a week earlier.

Bitcoin Purchases Funding the Issuance

During the August 31–September 4 period, Strive bought 1,375 BTC at an average price of approximately $79,281 per coin, including fees. This acquisition brought the company’s Bitcoin holdings to 24,531 BTC as of September 4.

Cash Position and Coverage Ratio

Cash and cash equivalents grew by $19.1 million, from $183.5 million to $202.6 million. When divided by the current‑rate annualized dividend estimate and multiplied by 12, this yields a coverage period of about 18.7 months, essentially unchanged from the prior week.

Other Holdings

The filing also notes that Strive holds 505,000 shares of Strategy’s STRC preferred stock, valued at $49.364 million on September 4. These holdings are excluded from the cash‑coverage calculation.

Future Outlook

Future changes in cash balances, the number of SATA shares, and any adjustments to the dividend rate will determine whether the coverage ratio remains stable.