DeFi Development Raises CHAD Dividend Yield to 14%

NASDAQ-listed Solana reserve company DeFi Development Corp. (DFDV) announced that it has raised the annual dividend yield on its CHAD preferred shares from 13% to 14%, effective November 2. Based on a par value of $10 per CHAD share, the annual dividend increases from $1.30 per share to $1.40 per share, with dividends paid daily on business days as declared by the company's board of directors. The company stated that future proceeds from CHAD issuances will be used to expand its Solana reserves, which generate income through staking and validating nodes. CEO Joseph Onorati noted that raising the dividend yield to 14% helps to increase investor participation and expand the scale of CHAD, with its appeal lying in providing double-digit dividend income through preferred securities listed on NASDAQ. DeFi Development last week increased its holdings by approximately 22,070 SOL and equivalent assets, bringing its total holdings to about 2.59 million SOL; the company reported that CHAD reached a new trading price high that week and recently approved a buyback plan to repurchase up to all issued CHAD shares.

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