STRC vs. UST: The Death Spiral or Just a Bad Hair Day?
The variable-rate perpetual preferred stock, known as “Stretch,” currently pays an annualized dividend of 11.5% on a $100 par value. The yield has climbed steadily since STRC launched in July 2025 at 9%, drawing comparisons to the unsustainable returns that once powered Terra’s growth. Because nothing says “sustainable finance” like a yield so high it makes your eyes water.


