Strategy (MSTR) · updated 2026-10-19 18:08 UTC · prices delayed
STRE is Strategy's euro preferred: a fixed 10% a year on a €100 stated amount, paid quarterly in euros. Missed dividends are owed later (cumulative), and it isn't convertible. It's listed in Luxembourg and ranks behind STRF and STRC.
Key risk: Returns to dollar investors swing with EUR/USD, and PrefWatch has no live price for it.
| Issuer | Strategy (MSTR) (BTC-backed) |
| Dividend rate | 10.00% fixed (eur) |
| Pays | Quarterly |
| Stated amount | €100 |
| Cumulative | Yes |
| Last price (delayed) | no US quote |
| Effective yield | — |
| Next payment | €2.50/sh paid 2026-12-31 (record 2026-12-15; expected) |
| Tax character | ROC expected |
Strategy (MSTR) pays about $1.50B a year across its preferreds (STRC, STRF, STRK, STRD, STRE). Its treasury of 848,517 BTC (as of 2026-10-18) is worth about $69.59B, which is roughly 46.4 years of BTC coverage and a 2.15% yearly breakeven BTC return. Cash coverage comes from two separate pools, shown side by side: the USD Reserve of $4.83B (as of 2026-10-18) covers about 39 months of preferred dividends, and USD Cash of $447.3M (as of 2026-10-18) covers about 4 months. These measures are never added to each other or to the treasury figure.
Coverage = treasury value ÷ annual preferred dividends. Holdings source.
What is STRE's dividend?
STRE pays a 10.00% annual dividend rate (fixed (eur)) on its €100 stated amount, paid quarterly.
Is STRE cumulative?
Yes. Missed dividends accrue and are owed later.
How well covered is STRE's dividend?
Strategy (MSTR)'s BTC treasury covers about 46.4 years of its annual preferred dividends at current prices (treasury value ÷ annual preferred dividends).
Effective yield = rate × stated amount ÷ price. Prices: Yahoo Finance (delayed). Crypto: CoinGecko. Terms, shares and holdings: issuer SEC filings. PrefWatch is independent and not affiliated with any issuer. Not investment advice.
See every preferred, the dividend calendar and the income modeler on PrefWatch