STRC vs. STRF vs. STRK vs. STRD
Strategy (formerly MicroStrategy) issues four "Digital Credit" perpetual preferred stocks, each with a $100 stated amount but different dividend terms and seniority. STRC is the variable-rate member; the others are fixed. Here's how they compare.
| Ticker | Name | Dividend | Type | Cumulative | Cadence | Convertible | Seniority |
|---|---|---|---|---|---|---|---|
| STRF | Strife | 10.00% | Fixed | Yes (step-up if unpaid) | Quarterly | No | 1st — most senior |
| STRC | Stretch | 12.00% | Variable (adjusts monthly) | Yes | Semi-monthly | No | 2nd |
| STRK | Strike | 8.00% | Fixed | Yes | Quarterly | Yes — 0.1 MSTR/share | 3rd |
| STRD | Stride | 10.00% | Fixed | No (forfeited if unpaid) | Quarterly | No | 4th — most junior |
All four carry a $100 stated amount / liquidation preference. Terms summarized from Strategy's SEC prospectuses; verify the full terms of each series in its filing on SEC EDGAR. Not financial advice.
STRC (Stretch) — the variable-rate one
STRC's dividend floats: Strategy resets it monthly (in 0.25% increments) to keep the share price near its $100 stated amount, and it currently pays 12.00%. As of July 1, 2026 it pays semi-monthly (two record dates a month); before that it was monthly. Because the dividend is paid on the $100 stated amount, buying below par yields more than the headline rate — see what STRC is. STRC's at-the-market issuance is the primary engine behind Strategy's ongoing Bitcoin accumulation.
STRF (Strife) — senior, fixed 10%
The most senior of the four. Fixed 10% cumulative dividends with a step-up penalty rate if a payment is missed, making it the most protective for income-focused holders.
STRK (Strike) — convertible, fixed 8%
The only convertible series: each STRK share converts into 0.1 shares of MSTR common, so it carries fixed 8% income plus upside exposure to Strategy's stock. Cumulative, paid quarterly.
STRD (Stride) — junior, fixed 10%
The most junior preferred, sitting just above MSTR common. Fixed 10% but non-cumulative — a missed dividend is forfeited rather than accrued — which is why it offers the highest headline rate for the risk.
STRC Tracker focuses on STRC in depth. Track its live price, dividend, and the Bitcoin it funds on the dashboard.