Spire Increases Common Stock Dividend

Rhea-AI Summary

Spire Inc. (NYSE: SR) Increases Quarterly Common Stock Dividend by 4.9% to $0.755 per Share, Marking the 21st Consecutive Year of Increases

Positive

• Spire Inc. demonstrates strong financial performance and confidence in long-term growth strategy through a 4.9% increase in the quarterly common stock dividend.
• The 21st consecutive year of dividend increases reflects Spire's commitment to delivering value to shareholders and positioning itself as an attractive investment.

Negative

• None.

21st Consecutive Year of Increases

ST. LOUIS, Nov. 13, 2023 /PRNewswire/ -- The board of directors of Spire Inc. (NYSE: SR) unanimously agreed to increase the quarterly common stock dividend to $0.755 per share from $0.72 per share. This full year $0.14 per share increase brings the annualized rate to $3.02, an increase of 4.9%.

"Spire's growing dividend reflects the Company's performance, strong financial position and the board's confidence in our long-term growth strategy going forward. It is also a key part of how we deliver value to our shareholders while positioning Spire as a compelling investment," said Ed Glotzbach, chairman of the board of Spire.

The dividend is payable on January 3, 2024, to shareholders of record on December 11, 2023. Spire has continuously paid a cash dividend since 1946, with 2024 marking the Company's 21^st 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 15, 2024, to holders of record on January 25, 2024.

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 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 (NYSE: SR) new quarterly common stock dividend rate?

Spire Inc. (NYSE: SR) has increased its quarterly common stock dividend to $0.755 per share from $0.72 per share, marking a 4.9% increase.

When is the dividend payable to shareholders of Spire Inc. (NYSE: SR)?

The dividend is payable on January 3, 2024, to shareholders of record on December 11, 2023.

How many years has Spire Inc. (NYSE: SR) consecutively increased its common stock dividend?

2024 marks the 21st consecutive year of Spire Inc. (NYSE: SR) increasing its common stock dividend on an annualized basis.