Dividend Calendar for Bitcoin Preferred Shares

Short answer: From January 2027 almost all bitcoin preferred shares pay daily: STRC, SATA and SATS already do, STRF, STRK and STRD will from 4 January 2027. MORE pays weekly, BTC-PREF-A monthly. Only STRE (end of March, June, September, December) and the unlisted MERCURY (mid-January, April, July, October) stay quarterly. Whether you receive a dividend depends on the ex-date, not the payment date.

If you live off dividends, you want to know when the money arrives. For bitcoin preferred shares this changed a lot in 2026: quarterly payments became daily ones. Here you will see what the three dates of a dividend mean, when each instrument pays, how to put together a calendar for yourself and when tax is deducted. All dates as of 13 November 2026, according to the issuers' announcements.

Record date, ex-date and payment date

Every dividend has three dates. They sound similar but mean different things.

Record date. On this day the issuer looks at its register of shareholders. Whoever is listed as a holder that evening receives the dividend. In German it is called Record-Tag or Stichtag.

Ex-date. From this day on, the share trades without the next dividend. If you buy on the ex-date or later, this dividend still belongs to the seller. If you sell on the ex-date, you still receive it. The price usually falls on that day by roughly the amount of the dividend.

Payment date. On this day the issuer transfers the money. It can take another day before it reaches your account at a European bank.

Why are two dates needed before the payment? Because a purchase is not settled immediately. In the US, since 28 May 2024 a share is transferred one trading day after the purchase (T+1). Whoever buys on the record date is only on the register the day after, which is too late. That is why the ex-date in the US now falls on the record date. In London and Stockholm settlement takes two days (T+2), so there the ex-date is one trading day before the record date.

For your calendar the payment date counts, for buying and selling the ex-date. You need the record date because many issuers only state that one.

When each instrument pays

The file from which the Digital Credit page takes its figures lists ten preferred shares from five bitcoin companies. Nine of them have been issued; Metaplanet's MARS has only been announced. What these instruments are in principle is explained in the guide Digital Credit explained.

Daily: STRC, SATA, SATS and from 2027 STRF, STRK, STRD

STRC (Strategy) has had a record date on every calendar day since 1 November 2026. Payment follows on the next business day. Before that STRC paid monthly, and twice a month from late June 2026. The rate is set anew each month; for November 2026 it is 12% on $100. How the rate comes about is explained in STRC (Stretch) explained.

SATA and SATS (Strive) pay on every business day to everyone who was a holder at the close of the previous business day. In November 2026 SATA pays $0.0571 per share per business day (13% a year), SATS a fixed 15%. SATS has only been paying since 9 November 2026. Strive SATA and SATS explained compares the two.

STRF, STRK and STRD (Strategy) pay quarterly for the last time: record date 15 Dec 2026, payment date 31 Dec 2026. Shareholders approved a change on 28 October 2026. From 1 January 2027 every calendar day is a record date, and the first daily payment comes on 4 January 2027.

Weekly: MORE

MORE (The Smarter Web Company, London) pays £0.2301 per share every week, which is 12% on £100. The ex-date is Thursday, the record date Friday, and the money arrives about 17 days later. Because months have four or five Thursdays, the monthly amount varies.

Monthly: BTC-PREF-A

BTC-PREF-A (BTC AB, Stockholm) pays SEK 1.00 per share every month, SEK 12 a year. The most recent ex-date was 12 November 2026. The dates are in the company's financial calendar.

Quarterly: STRE and MERCURY

STRE (Strategy, in euros, Luxembourg Stock Exchange) pays 10% on €100, so €2.50 per quarter. The record date is the 15th of the last month of the quarter, the payment date the end of the quarter: end of March, June, September and December. The switch to daily payments in October 2026 does not affect STRE.

MERCURY (Metaplanet, in yen) has record dates on 31 March, 30 June, 30 September and 31 December and pays on the 15th of the following month: ¥12.25 per share. The instrument is held by institutional investors and is not listed. You cannot buy it. What is coming up for it is covered in Metaplanet MARS and MERCURY.

The dividend calendar of all instruments

All dates in one table:

As of 13 Nov 2026, according to the issuers' announcements (SEC, London Stock Exchange, MFN, Metaplanet). Amounts at $100, £100, €100 or ¥1’000 nominal value. If a payment date falls on a weekend or holiday, payment is made on the next business day. Each dividend must be declared by the board; dates can change. The current dates are shown in the dividend calendar on the Digital Credit page.

And this is what a year looks like, month by month:

From 2027, STRE is the only instrument you can buy that does not pay at least monthly.

Combining instruments for monthly income

If you want income every month, you have two routes: buy daily or weekly payers, or smooth quarterly payers with an account in between. Combining several quarterly instruments with staggered payment dates does not work for bitcoin preferred shares. STRE pays in March, June, September and December. The only instrument that pays in the months after is MERCURY, and you cannot buy it.

The examples use the effective yields at the closing prices of 12 Nov 2026: STRC 12.00%, STRE 12.66%, MORE 14.46%, BTC-PREF-A 8.63%. Effective yield means the dividend divided by the price. Exchange rates stay the same, amounts before tax.

What the three examples show:

• A brings the most, but only four times a year. For ongoing expenses you need a savings account in between, from which you pay yourself €105.50 a month.
• B already smooths a lot. If you want to keep STRE for the euro, mix it with a daily payer.
• C pays almost the same every month and spreads across three issuers and three currencies. In return the amount in euros moves with the pound, the krona and the dollar, and BTC-PREF-A yields less.

Frequency is only one side. How much capital you need for your requirement and how well the instruments are covered is worked through with three sample portfolios in Monthly cash flow from digital credit. Calculate your own amount here:

When tax is deducted

For tax purposes, the day the money flows counts, not the record date. What you pay in which country is covered in Taxes on digital credit dividends. Here it is only about timing.

Withholding tax on the payment date. US withholding tax (15% with form W-8BEN) is deducted from every single payment, so for daily payers every day. Sweden deducts 30% from every BTC-PREF-A payment, the UK deducts nothing from MORE.

German flat-rate tax and Austrian KESt on crediting. A German or Austrian bank deducts the tax when it credits the dividend. In Germany it first offsets your saver's allowance (Sparer-Pauschbetrag). With a foreign broker you declare everything in your tax return.

The tax year follows the payment date. STRE's December dividend and the last quarterly one of STRF, STRK and STRD arrive on 31 Dec 2026, a Thursday. They belong to tax year 2026. MERCURY only pays the dividend for the quarter ending 31 December on 15 January, so in the new year. What counts is the date on your statement.

Conversion at the payment-date rate. In Germany a dividend in dollars, pounds or kronor is converted into euros at the exchange rate on the day it is received. For daily payers that is over 250 conversions a year. Your bank sums them up in the annual tax certificate.

Switzerland. Dividends belong to the income of the year in which they are paid. You claim the US tax credit once a year with form DA-1.