Spire Inc. Boosts Dividend, Marking Continuous Growth
Spire Inc. Announces Annual Dividend Increase
Spire Inc. (NYSE: SR) has made a significant move by increasing its annual common stock dividend from $3.02 to $3.14 per share. This marks an impressive 22nd consecutive year of dividend increases, showcasing the company's commitment to delivering value to its shareholders.
Details of the Dividend Increase
The board's decision, unanimous and resolute, indicates their strong confidence in the financial stability and growth strategy of Spire. The quarterly dividend now stands at $0.785, translating to a 4.0% increase compared to the previous year. This growth reflects Spire's strategic initiatives and effective management of resources.
Dividend Payment Schedule
Shareholders can expect to see the dividend credited to their accounts on January 3, 2025, provided they are holders of record by December 11, 2024. Alongside this, the board announced a regular quarterly dividend of $0.36875 per depositary share on Spire's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, which will be paid out on February 17, 2025, to those recorded as shareholders on January 24, 2025.
Rob Jones Comments on Dividend Strategy
Rob Jones, the chairman of the board, expressed optimism about the company's future, stating, "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." This commitment to growth underlines Spire's strategy of fostering shareholder confidence through financial perseverance.
About Spire Inc.
At Spire Inc. (NYSE: SR), the core belief is that energy is essential to enhancing lives. The company proudly serves approximately 1.7 million homes and businesses across the southern United States, making it one of the largest publicly traded natural gas companies in the country. Their service extends into gas utilities, efficiently providing energy solutions to families and businesses, thus playing a crucial role in daily operations in the region.
Growing Infrastructure and Innovation
Spire's business operations aren't just limited to utilities. The company also runs Spire Marketing and Spire Midstream, emphasizing organic growth and heavy investment in infrastructure. Leveraging innovative technologies, Spire Inc. is dedicated to transforming the natural gas landscape while providing exceptional customer service.
For further inquiries about Spire Inc. and its enhanced dividend offerings, potential investors and media representatives can get in touch with the following contacts:
Frequently Asked Questions
What is the new dividend amount declared by Spire Inc.?
The new annual common stock dividend amount has been increased to $3.14 per share.
What is the significance of this dividend increase?
This is the 22nd consecutive year that Spire has increased its dividend, showcasing its strong financial position and commitment to shareholder returns.
When will the dividend be paid?
The dividend will be payable on January 3, 2025, to shareholders of record as of December 11, 2024.
How does Spire plan to grow in the future?
Spire Inc. is focusing on organic growth, infrastructure investment, and innovation to enhance its operational efficiency and service delivery.
Who can I contact for more information?
For investor-related inquiries, you can contact Megan McPhail, while media inquiries can be directed to Jason Merrill.
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