$SWC raised £10.0 million gross through #MORE#, with an initial 12% dividend paid weekly.
The official listing of #MORE# on the LSE Main Market is expected at 8:00 a.m. on 14 October 2026.
Perpetual prefs are coming to Europe.
Did you know that BitMine has a $STRC-like preferred stock, except it's backed by Ethereum?
Ticker: $BMNP
It currently offers a 9.5% dividend and is trading well below par ($100). I doubt ETH will even compound at 9.5% annually going forward, so to me this is completely insane.
I think the dividend will need to reach something closer to 15% for it to trade at par, given the additional risk of Ethereum.
A dividend that is not sustainable.