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 18th 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.
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.