Spire Increases Common Stock Dividend

Rhea-AI Summary

Spire Inc. (NYSE: SR) announced a 4.0% increase in its annual common stock dividend to $3.14 per share from $3.02 per share, raising the quarterly rate to $0.785. The dividend is payable on January 3, 2025, to shareholders of record on December 11, 2024. This marks Spire's 22nd consecutive year of dividend increases, with continuous cash dividend payments since 1946. Additionally, the company declared a quarterly dividend of $0.36875 per depositary share on its 5.90% Series A Preferred Stock, payable February 17, 2025.

Positive

• 22-year track record of consecutive dividend increases
• 4.0% increase in annual dividend from $3.02 to $3.14 per share
• Continuous cash dividend payments since 1946 demonstrating financial stability

Negative

• None.

News Market Reaction – SR

+0.35%

1 alert

+0.35% News Effect

On the day this news was published, SR gained 0.35%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

22^nd Consecutive Year of Increases 

ST. LOUIS, Nov. 14, 2024 /PRNewswire/ -- The board of directors of Spire Inc. (NYSE: SR) unanimously agreed to increase the annual common stock dividend to $3.14 per share from $3.02 per share. The $0.12 per share increase brings the quarterly rate to $0.785, an increase of 4.0%.

"The board's vote to increase Spire's dividend reflects our confidence in both the company's financial position and its long-term growth strategy. Spire will continue to be a compelling investment delivering value to shareholders," said Rob Jones, chairman of the board of Spire.

The dividend is payable on January 3, 2025, to shareholders of record on December 11, 2024. Spire has continuously paid a cash dividend since 1946, with 2025 marking the Company's 22^nd consecutive year of increasing its common stock dividend on an annualized basis. The board of directors also declared the regular quarterly dividend of $0.36875 per depositary share on Spire's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, payable February 17, 2025, to holders of record on January 24, 2025.

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 company 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 advancing through innovation. Learn more at SpireEnergy.com.    

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's (SR) new annual dividend per share for 2025?

Spire's new annual dividend is $3.14 per share, increased from $3.02 per share, representing a 4.0% increase.

When is Spire's (SR) next dividend payment date in 2025?

Spire's next dividend payment is scheduled for January 3, 2025, for shareholders of record as of December 11, 2024.

How many consecutive years has Spire (SR) increased its dividend?

Spire has increased its dividend for 22 consecutive years, with 2025 marking the latest increase.

What is Spire's (SR) new quarterly dividend rate?

Spire's new quarterly dividend rate is $0.785 per share, reflecting the 4.0% increase.