Spire Inc. (NYSE:SR) Announces $0.82 Quarterly Dividend

Key Points

• Spire declared a quarterly dividend of $0.825 per share, payable October 2 to shareholders of record September 11. The dividend implies an annualized payout of approximately $3.30 per share and a 4.1% yield.
• Spire has increased its dividend for 22 consecutive years. Its current payout ratio is 65.2%, with analysts projecting a lower 59.8% ratio based on expected next-year earnings.
• The company’s latest quarterly results exceeded expectations, with EPS of $3.76 versus the $3.72 consensus estimate, while revenue rose 4.5% year over year to $1.02 billion.

Spire Inc. (NYSE:SR - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Investors of record on Friday, September 11th will be paid a dividend of 0.825 per share by the utilities provider on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 11th.

Spire has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Spire has a dividend payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Spire to earn $5.52 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 59.8%.

Spire Price Performance

Spire stock opened at $80.61 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $80.78 and a 200-day simple moving average of $86.04. The stock has a market cap of $4.77 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.81 and a beta of 0.52. Spire has a 12-month low of $73.41 and a 12-month high of $95.31.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $3.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.72 by $0.04. Spire had a return on equity of 9.49% and a net margin of 13.97%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $3.60 EPS. Spire's revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts expect that Spire will post 4.02 EPS for the current fiscal year.

Spire Company Profile

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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