DeFi Development increases CHAD preferred stock dividend rate to 14%

DeFi Development Corp. has announced an increase in the annual dividend rate for its CHAD Nasdaq-listed variable-rate Series C perpetual preferred stock. The rate is rising from 13% to 14%, effective November 2. Based on a $10 stated amount, this increases annual dividend payments from $1.30 to $1.40 per share.

For November, the company declared $184,469 in dividends, with payments of $0.00614 per share distributed across 19 business days. The company intends to use proceeds from future CHAD issuances to expand its Solana (SOL) treasury. As of October 12, the company reported a treasury of 2,586,282 SOL and SOL equivalents.

DeFi Development generates returns on its holdings through staking, validator operations, and other treasury strategies. The company has established a $300 million at-the-market CHAD program to provide capacity for future issuance and further SOL accumulation.