Strive is making a small change to one of its preferred stock payouts. The Dallas-based Bitcoin treasury company, co-founded by Vivek Ramaswamy, will raise the annual dividend rate on its Variable Rate Series A Perpetual Preferred Stock, ticker SATA, to 13.25% from 13%. The new rate starts December 1, 2026.
The company announced the move on November 12, 2026. It is a quarter-point increase. SATA pays cash dividends daily on business days, and Strive says the shares have paid more than 109 consecutive daily dividends at the old 13% rate.
A fixed sibling and a bigger Bitcoin stack
The other preferred security, Series A Perpetual SATS Preferred Stock, stays at a fixed 15% rate on a $100 stated amount. That rate is locked. SATA is variable, so the company can adjust it over time. It can go up, as it is doing now. It can also go down later.
Strive also disclosed its Bitcoin holdings. As of November 6, 2026, the company held 43,153 BTC. Its latest purchase added 29 Bitcoin at an average price of about $75,721 each, or roughly $2.2 million in total.
As of early November, Strive had 14,030,176 SATA shares outstanding and about 7.036 million SATS shares. Together, those preferred shares carry a combined annual dividend obligation of around $288 million. The SATS shares launched through a $630 million gross offering that closed on October 20, 2026.
Why preferred shares instead of debt
Strive does not use conventional debt, according to the research findings. It sells preferred stock to investors, pays them income, and uses the proceeds to buy more Bitcoin. The company also keeps reserves that cover dividends for around 18 months on the SATS shares.
That approach has helped Strive build one of the larger public corporate Bitcoin treasuries. It also creates a bill. Bitcoin does not pay interest or dividends. The company must meet its preferred payouts through reserves, new capital raises, and the value of the coins it holds.
What investors should watch
For income investors, the SATA math got slightly better. A 13.25% yield paid daily may look attractive next to savings account rates. But the rate is variable, and the obligation is real. The $288 million annual dividend commitment is substantial. The 18-month SATS reserve offers a cushion, but it is not a permanent fix. Strive’s ability to keep paying preferred holders will depend on how it manages those reserves and whether it can keep raising capital at reasonable terms.
