DeFi Development Raises CHAD Dividend Rate to 14%
DeFi Development is raising the dividend rate on its CHAD preferred stock to 14% from 13% as it expands its Solana treasury.
DeFi Development has announced an increase in the dividend rate on its CHAD preferred stock to 14% from 13%, according to TheBlock. The adjustment is part of an ongoing initiative by the company to utilize CHAD sales to grow its Solana ($SOL) treasury holdings.
Dividend Rate Adjustment
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The preferred stock dividend adjustment moves the yield higher by one percentage point. According to the report, the capital raised through the preferred stock sales is directed toward accumulating Solana ecosystem assets.
Key facts
- DeFi Development raised the CHAD preferred stock dividend rate to 14%
- The previous dividend rate was set at 13%
- The strategy utilizes CHAD sales to expand Solana holdings
Source: theblock.co
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