Strive to pay daily cash dividends on preferred stock

Bitcoin strategy firm and asset manager Strive (Nasdaq: ASST) has announced plans to pay cash dividends on its preferred stock, SATA, every business day. According to CoinDesk, this marks a first in U.S. securities history and is scheduled to take effect on June 16. While SATA's stated annual dividend yield is 13%, the effective yield will rise to approximately 13.88% due to the switch from monthly to daily payments. Alongside the news, Strive CEO Matt Cole announced that the company has repaid all of its outstanding debt. Strive currently holds 15,009 BTC, ranking it ninth among publicly traded companies worldwide by Bitcoin holdings.