Spire hikes dividend by 4.4%

Spire Inc. (SR) will raise its quarterly dividend by 4.4 percent to 65 cents per share quarterly. This follows a 5.1 percent dividend hike to 0.6225 per share last year. The year 2020 will mark the 20th consecutive year that the dividend has been increased by the company formerly known as Laclede.

The next dividend is payable January 5, 2021, to shareholders of record on December 11, 2020. The new annualized dividend rate of $2.60 per share yields 4.1% at at stock price of $63.54.

Spire Inc., formerly The Laclede Group, operates gas utilities serving Alabama, Mississippi and Missouri. The company’s non-utility operations include Spire Marketing, which provides natural gas marketing and related services. The gas utility segment includes the regulated operations of Laclede Gas Company, Alabama Gas Corporation and EnergySouth, Inc. Laclede Gas is engaged in the purchase, retail distribution and sale of natural gas, serving residential, commercial and industrial customers. The company has continuously paid a cash dividend since 1946.