Spire Inc. Amends Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock

Rhea-AI Summary

Spire (NYSE: SR) will redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (SR.PRA) on February 13, 2026. Redemption price equals $25.00 per Depositary Share plus accrued dividends; the declared quarterly dividend of $0.36875 per Depositary Share will be paid on February 17, 2026 to holders of record as of January 26, 2026. Payment is made in two parts: base redemption on the Redemption Date and the declared dividend on February 17, 2026, after which the company has no further obligations on the redeemed shares.

Positive

• Complete redemption of all 10,000 Series A preferred shares
• Clear, fixed redemption price of $25.00 per Depositary Share
• Declared dividend of $0.36875 payable to Record Date holders

Negative

• Preferred holders lose ongoing dividend entitlement after February 17, 2026
• Redemption eliminates perpetual preferred instrument from capital structure

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ST. LOUIS, Feb. 2, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) (the "Company") previously announced that it has delivered notice to holders of the Company's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (NYSE: SR.PRA – CUSIP No.: 84857L309) (the "Series A Preferred Stock") of the Company's intent to redeem all 10,000 of its outstanding Series A Preferred Stock, par value $25.00 per share, liquidation preference $25,000 per share, and the corresponding depositary shares of the Company ("Depositary Shares"), each representing 1/1000th fractional interest in one share of Series A Preferred Stock.

As previously disclosed, the redemption date is February 13, 2026 (the "Redemption Date"). The redemption price is equal to $25.00 per Depositary Share (the "Base Redemption Amount"), plus all accrued and unpaid dividends up to, but not including, the Redemption Date (the "Accrued Dividends", and together with the Base Redemption Amount, the "Redemption Price").

The Company previously declared a regular quarterly dividend on the Series A Preferred Stock in an amount equal to $0.36875 per Depositary Share (the "Declared Dividend"), payable on February 17, 2026, for holders of the Series A Preferred Stock as of the previously announced record date, January 26, 2026 (the "Record Date"). Only holders of shares of Series A Preferred Stock as of the Record Date will be entitled to receive the Declared Dividend on February 17, 2026 with respect to such shares.

Payment of the Redemption Price will be made in two parts. First, the Depositary Shares will be redeemed on the Redemption Date at a redemption price equal to the Base Redemption Amount (equivalent to $25,000 per share of the Series A Preferred Stock), payable only to the holders of the Series A Preferred Stock as of the Redemption Date. Second, on February 17, 2026, holders of record of the Series A Preferred Stock as of the Record Date will receive the Declared Dividend, which represents the entirety of the Accrued Dividends.

There are no additional Accrued Dividends payable with respect to the Series A Preferred Stock. Following payment of the Redemption Price, the Company will have no further obligations with respect to dividends or other amounts on the redeemed shares.

Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to Computershare Trust Company, N.A. for the redemption of the Series A Preferred Stock. The address for the redemption agent is as follows:

Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St., Suite 101
Canton, MA 02021

Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the redemption price for the Depositary Shares in which they have a beneficial interest.

About Spire

At Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. For a more complete description of these uncertainties and risk factors, see the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, each as filed with the Securities and Exchange Commission.

Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.com

Media Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com

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SOURCE Spire Inc.

FAQ

What is Spire (SR) redeeming on February 13, 2026?

Spire is redeeming all 10,000 outstanding 5.90% Series A preferred shares on February 13, 2026. According to the company, the Depositary Shares are redeemed at a base price of $25.00 per share, with accrued dividends paid separately on February 17, 2026.

How much will SR pay per Depositary Share for the Series A redemption?

SR will pay a Base Redemption Amount of $25.00 per Depositary Share on the Redemption Date. According to the company, holders of record as of January 26, 2026 will also receive a declared dividend of $0.36875 on February 17, 2026.

Who receives the $0.36875 dividend for SR.PRA and when?

Holders of record as of January 26, 2026 will receive the $0.36875 dividend on February 17, 2026. According to the company, only those recorded by the Record Date are entitled to this declared quarterly dividend, paid after the redemption date.

Will SR owe any additional dividends after the redemption?

No. After payment of the Redemption Price and declared dividend, the company will have no further obligations on the redeemed Series A shares. According to the company, there are no additional accrued dividends payable with respect to the Series A preferred stock.

How will Series A Depositary Shareholders obtain their redemption payment from SR?

Depositary shareholders should contact their bank or broker to obtain the redemption price for shares held beneficially. According to the company, Computershare Trust Company, N.A. is the redemption agent for registered holders and can provide the related materials and instructions.