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

Rhea-AI Summary

Spire (NYSE: SR) notified holders it will redeem all 10,000 outstanding 5.90% Series A cumulative perpetual preferred shares and related depositary shares effective February 13, 2026. Depositary Shares will receive a Redemption Price of $25.36056 per Depositary Share, inclusive of accumulated dividends through but not including the Redemption Date.

The Series A preferred will cease accruing dividends immediately prior to redemption and will be delisted from the New York Stock Exchange upon redemption.

Positive

• Immediate elimination of perpetual dividend obligation
• Redemption completes by a specified date: February 13, 2026
• Clear, cash-settlement price of $25.36056 per Depositary Share

Negative

• Delisting of Series A preferred from NYSE upon redemption
• Holders lose ongoing dividend rights immediately prior to redemption
• Potential administrative friction for beneficial holders through brokers

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ST. LOUIS, Jan. 29, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) (the "Company") announced today 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. 

The anticipated redemption date is February 13, 2026 (the "Redemption Date"). The Depositary Shares will be redeemed at a redemption price of $25.00 per share (equivalent to $25,000 per share of the Series A Preferred Stock), plus $0.36056 per share, for a total payment of $25.36056 per share, the amount equal to all accumulated and unpaid dividends up to, but not including, the Redemption Date (the "Redemption Price"). The Series A Preferred Stock will cease to accumulate dividends immediately prior to the Redemption Date. Upon redemption, the Series A Preferred Stock (or related Depositary Shares) will no longer be outstanding, and all rights of the holders will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. As a result, no separate dividend will be paid on February 17, 2026. Upon redemption, the Series A Preferred Stock will be delisted from trading on the New York Stock Exchange. 

The Depositary Shares are held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as transfer agent and redemption agent, in accordance with the Deposit Agreement governing the Depositary 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 did Spire (SR) announce about redeeming its 5.90% Series A preferred on January 29, 2026?

Spire announced it will redeem all 10,000 Series A preferred shares on February 13, 2026. According to Spire, Depositary Shares will be paid $25.36056 each, representing $25.00 par plus $0.36056 accumulated dividends through but not including the Redemption Date.

How much will holders of SR.PRA depositary shares receive in the Spire redemption?

Holders will receive a Redemption Price of $25.36056 per Depositary Share on redemption. According to Spire, that amount equals $25.00 par value plus $0.36056 for accumulated unpaid dividends through the Redemption Date.

When will dividends on Spire (SR) Series A preferred stop accruing ahead of the February 13, 2026 redemption?

Dividends cease accruing immediately prior to the Redemption Date of February 13, 2026. According to Spire, the Series A preferred will stop accumulating dividends just before that date and no separate dividend will be paid on February 17, 2026.

What happens to trading and holder rights for SR Series A preferred after the February 13, 2026 redemption?

Upon redemption, the Series A preferred will no longer be outstanding and will be delisted from the NYSE. According to Spire, holders' rights terminate except for the right to receive the cash payable upon redemption, without interest.