DeFi Development Raises CHAD Dividend Yield to 14% on Nasdaq-Listed Solana

DeFi Development Corp. (DFDV), listed on Nasdaq, announced an increase in the annual dividend yield of its CHAD preferred stock from 13% to 14%, effective November 2. Based on a par value of $10 per CHAD share, the annual dividend will rise from $1.30 to $1.40 per share, payable on each business day following the board's declaration of dividends. The company stated that future proceeds from CHAD issuances will be used to expand its Solana reserves, which generate revenue through staking and validation node operations. CEO Joseph Onorati noted that raising the dividend yield to 14% will help broaden investor participation and scale CHAD. He emphasized that CHAD's appeal lies in offering double-digit dividend income through Nasdaq-listed preferred securities, with daily payments, while the issuer maintains a revenue-generating SOL reserve. The company aims to position CHAD as a leading digital credit tool, enhancing the ability to accumulate SOL and providing value to common shareholders while maintaining prudent capital management. Last week, DeFi Development 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 for up to all issued CHAD shares.