Bitcoin treasury firm Strategy Inc. (MSTR) is proposing to update the dividend payment schedule for its STRC preferred stock, according to an announcement on Friday.

If approved by shareholders, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) would shift from paying dividends once a month to twice a month. The company states that the change could "lead to reduced reinvestment lag, enhanced liquidity, market efficiency, and increased price stability."

STRC is a perpetual preferred stock designed to trade near a $100 par value while paying a variable cash dividend, currently at an annualized rate of 11.5%. The dividend rate adjusts monthly in an effort to encourage trading close to par and minimize volatility.

Strategy has issued a suite of preferred stocks that rank above its common stock, MSTR. These instruments — including STRF (Strife), STRE (Stream), STRK (Strike), and STRD (Stride), and STRC (Stretch) — have helped the company raise billions of dollars to support its bitcoin acquisition strategy.

Unlike STRC, Strategy’s other preferred stocks have fixed dividend rates. Earlier this week, STRC recorded a $1.1 billion trading day, up nearly 50% from its previous high.

According to the statement, Strategy will hold an annual meeting on June 8 when the voting on the proposal Stretch update closes. The first record date under the new semi-monthly schedule, if approved, is June 30, with the first payment expected July 15.

Following its latest bitcoin purchases last week, Strategy's total holdings sit at 780,897 BTC.