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Techub News reports, according to CoinDesk, Strive (stock ticker: ASST) announced that its preferred stock SATA will become the first listed security in the United States to pay daily cash dividends starting June 16.
The security maintains an annual dividend rate of 13%, but the daily dividend structure, through more frequent compounding, effectively increases the yield to approximately 13.88%.
The company has now paid off all debts and holds 15,009 bitcoins, ranking as the ninth-largest publicly traded corporate Bitcoin holder globally.
Its CEO, Matthew Cole, stated that the daily dividend structure is a "zero-to-one innovation," aimed at serving as a cash income tool and competing with traditional money market alternatives.