STRIVE DECLARED ITS FIRST SATS DIVIDENDS — $1.7264 A SHARE THROUGH NOVEMBER 30, ABOUT $12.1 MILLION — AND SAYS IT EXPECTS NO EARNINGS AND PROFITS “IN THE CURRENT YEAR OR THE FORESEEABLE FUTURE”

Strive's board declared the first cash dividends on SATS, its 15% preferred, in an 8-K filed October 21, 2026. Holders get $0.8710 a share on November 9, covering October 21 through November 9. Then $0.0658 a share every business day from November 10 through November 30. That's $1.7264 a share in all. On the 7,000,000 shares sold October 20, it comes to $12,084,800.

The math is $1.25 a share a month, split across that month's business days. October's slice works out to about $0.0595 a day and November's to $0.0658, because November has fewer business days by the filing's count. Over a year, that's $105 million on $700 million of stated value. CEBE's October 20 entry puts Strive's preferred at $2.10 billion in all, against 36,818 bitcoin and $925.65 million of cash, with no debt.

The line worth reading is the tax one. The 8-K says: “The Company does not have any accumulated earnings and profits, and does not expect to generate current earnings and profits in the current year or the foreseeable future.” Earnings and profits is the tax measure that decides whether a payout counts as a dividend. Without it, the checks are a “tax-deferred recovery of capital” for U.S. holders. The SATS prospectus said only that Strive “may not have sufficient” earnings and profits. The 8-K drops the may.

So who pays? Not profits, by the company's own forecast. The first 18 months come from the $157.5 million reserve Strive funded with cash and securities it already had. After that, the money comes from selling more stock or from the bitcoin. At the time of this writing, bitcoin was $84,597.