Spire Increases Common Stock Dividend 18th Consecutive Year of Increases

Rhea-AI Summary

On November 18, 2020, Spire Inc. (NYSE: SR) announced an increase in its quarterly common stock dividend from $0.6225 to $0.65 per share, marking the 18th consecutive year of annual dividend increases. This $0.11 increase brings the annualized dividend to $2.60 per share. The dividend will be payable on January 5, 2021, to shareholders of record by December 11, 2020. The board also declared a regular quarterly dividend of $0.36875 per depositary share on its Series A Preferred Stock, payable on February 15, 2021.

Positive

• Increased quarterly common stock dividend to $0.65 per share, up from $0.6225.
• 18th consecutive year of annual dividend increases.
• Annualized dividend now stands at $2.60 per share.

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• None.

ST. LOUIS, Nov. 18, 2020 /PRNewswire/ -- The board of directors of Spire Inc. (NYSE: SR) unanimously agreed to increase the quarterly common stock dividend to $0.65 per share from $0.6225 per share. This full year $0.11 increase brings the annualized rate to $2.60 per share.

"Spire's growing dividend ensures that our investors benefit from another year of solid performance and its strong financial position. The Board of Directors is confident in our Company's growth strategy and plans going forward. Growing our dividend is an integral part of how we deliver value to our shareholders and maintain Spire's position as a compelling investment," said Ed Glotzbach, chairman of the board of Spire.

The dividend is payable on January 5, 2021, to shareholders of record on December 11, 2020. Spire has continuously paid a cash dividend since 1946, with 2021 marking the Company's 18^th 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 percent Series A Cumulative Redeemable Perpetual Preferred Stock payable February 15, 2021, to holders of record on January 25, 2021.

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 the fifth 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, Spire STL Pipeline and Spire Storage. We are committed to transforming our business through growing organically, investing in infrastructure, and advancing through innovation. Learn more at SpireEnergy.com.    

Investor Contact:
Scott W. Dudley Jr.
Scott.Dudley@SpireEnergy.com  
314-342-0878

Media Contact:
Jessica B. Willingham
Jessica.Willingham@SpireEnergy.com  
314-342-3300

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SOURCE Spire Inc.

FAQ

What is Spire Inc.'s new dividend amount?

Spire Inc. has increased its quarterly common stock dividend to $0.65 per share.

When will the new dividend be paid to shareholders?

The new dividend will be payable on January 5, 2021.

How long has Spire Inc. been increasing its dividend?

Spire Inc. has increased its common stock dividend for 18 consecutive years.

What is the record date for the upcoming dividend payment?

The record date for the upcoming dividend is December 11, 2020.

What is the annualized dividend rate after the increase?

The annualized dividend rate is now $2.60 per share.