Yahoo Finance
Strategy (NASDAQ: $MSTR) has announced a new $2 billion U.S.
stock buyback program as it looks to attract investors and boost its share price.
The board of directors at the Bitcoin (CRYPTO: $BTC) treasury firm authorized up to $1 billion U.S.
in repurchases of Strategy's Digital Credit Securities and $1 billion U.S.
in buybacks of the company's Class A common stock.
The share repurchase program has no expiration date.
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Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket The company led by Chairman Michael Saylor also unveiled a new "Digital Credit Capital Framework" that is designed to strengthen Strategy's preferred stock (NASDAQ: $STRC).
The Capital Framework will preserve long-term Bitcoin exposure and give Strategy more balance sheet flexibility, said the company in a statement.
Strategy's preferred stock currently pays a bi-monthly dividend that yields 12%.
The company provided an update on its cash reserves, saying they now stand at $2.55 billion U.S., enough to cover 17 months of dividends on the preferred stock.
Strategy's board has also approved a "Bitcoin Monetization Program" that will allow the company to sell Bitcoin when management deems it advantageous.
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