Solana treasury firm DeFi Development raises CHAD preferred stock dividend rate to 14%

DeFi Development Corp., a publicly traded company focused on accumulating Solana (SOL), announced Thursday that it is increasing the annual dividend rate on its CHAD preferred stock from 13% to 14%. The 100 basis point increase will take effect on November 2, raising annual dividend payments from $1.30 to $1.40 per share based on CHAD’s $10 stated value. This represents a 7.7% increase in annual dividend income per share. CHAD, which trades on Nasdaq, is designed to provide investors with recurring income through cumulative dividends payable each business day, subject to approval by the company’s board of directors. DeFi Development expands its Solana treasury strategy Launched in September, CHAD is a variable rate perpetual preferred stock that allows DeFi Development to raise capital for additional SOL purchases while offering investors regular dividend payments. Unlike common shares, CHAD prioritizes dividend income rather than direct participation in the company’s stock price appreciation. Its dividend rate can also change based on market conditions and the company’s financing strategy. At a purchase price of $10 per share, the new rate represents a 14% annualized dividend yiel...