Strategy Inc says 100% of 2025 preferred dividends are return of capital, no E&P expected

Strategy Inc

For 2025, 100% of preferred stock distributions were nontaxable return of capital (ROC) per U.S. federal income tax.
Raised $5.5B from five perpetual preferred IPOs and $1.9B from ATM programs; paid $413M in cumulative distributions at 9.6% blended rate.
Strategy expects no current or future E&P for foreseeable future (10+ years); dividends treated as ROC to extent of shareholder basis.
Forms 8937 for each distribution available at strategy.com/investor-relations/dividend-return-of-capital.

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