Spire Inc. Amends Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock
MWN-AI** Summary
Spire Inc. (NYSE: SR) recently announced its intention to redeem all 10,000 shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (CUSIP No.: 84857L309). The redemption date is set for February 13, 2026, with a defined redemption price of $25.00 per Depositary Share, in addition to accrued and unpaid dividends up to this redemption date.
The announcement details that on February 17, 2026, Spire will pay a regular quarterly dividend of $0.36875 per Depositary Share to holders who owned shares as of the record date, January 26, 2026. Consequently, the total redemption payout, which combines the base redemption amount and accrued dividends, will be completed in two phases.
Firstly, the redemption price will be paid to those who hold Series A Preferred shares as of the redemption date. Secondly, the declared dividend will be distributed to shareholders included in the record date, representing the entirety of accumulated dividends.
Once the redemption and the payment of dividends are finalized, Spire will have no further obligations regarding these preferred shares. Investors are encouraged to reach out to Computershare Trust Company, N.A. for inquiries related to the redemption process.
Spire Inc. is recognized as one of the largest publicly traded natural gas companies in the United States, serving around 1.7 million homes and businesses primarily across Alabama, Mississippi, and Missouri. The company is committed to enhancing its service delivery while investing in infrastructure to foster growth.
This strategic move to redeem preferred shares aligns with Spire's broader objective to manage its financial portfolio and might signal ongoing changes in its capital structure.
MWN-AI** Analysis
Spire Inc.'s decision to redeem all its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock offers both opportunities and considerations for investors in the natural gas utility sector. The redemption notice, set for February 13, 2026, effectively means that shareholders will receive $25 per Depositary Share, in addition to any accrued dividends. This prompts a reevaluation of the preferred stock's attractiveness given its stable but relatively low yield.
For current investors in the Series A Preferred, this represents a finite investment horizon, with liquidity events forthcoming. As the market approaches the redemption date, it is crucial to assess whether holding or selling before the marker yields better financial gains, especially considering the preferred nature of this equity.
The planned redemption reflects Spire's strategy of capital management and alignment with evolving market conditions. By retiring the existing preferred shares, Spire may aim to potentially cut down its cost of capital or reallocate resources into more investment-friendly avenues, such as infrastructure enhancements or market expansion efforts.
Investors should analyze Spire's overall financial health before making decisions. Key indicators include its earnings consistency, regulatory considerations in the natural gas sector, and ongoing growth strategies. Spire's operational footprint across Alabama, Mississippi, and Missouri strengthens its market position. However, external economic factors, such as fluctuating commodity prices and weather variations, can impact performance.
Given the ongoing transitions in the energy sector, including regulatory implications and competitive dynamics, investors should remain astutely informed about both local and national energy policy changes. Monitoring Spire’s forthcoming quarterly earnings and potential dividend announcements will further illuminate the efficacy of its strategic choices.
In conclusion, understanding the implications of this preferred stock redemption is essential for stakeholders. Investors might consider reallocating proceeds into other securities offering higher yields or potential for capital appreciation while keeping a close watch on Spire's overall strategic direction and market dynamics.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
ST. LOUIS, Feb. 2, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) (the "Company") previously announced that it has delivered notice to holders of the Company's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (NYSE: SR.PRA – CUSIP No.: 84857L309) (the "Series A Preferred Stock") of the Company's intent to redeem all 10,000 of its outstanding Series A Preferred Stock, par value $25.00 per share, liquidation preference $25,000 per share, and the corresponding depositary shares of the Company ("Depositary Shares"), each representing 1/1000th fractional interest in one share of Series A Preferred Stock.
As previously disclosed, the redemption date is February 13, 2026 (the "Redemption Date"). The redemption price is equal to $25.00 per Depositary Share (the "Base Redemption Amount"), plus all accrued and unpaid dividends up to, but not including, the Redemption Date (the "Accrued Dividends", and together with the Base Redemption Amount, the "Redemption Price").
The Company previously declared a regular quarterly dividend on the Series A Preferred Stock in an amount equal to $0.36875 per Depositary Share (the "Declared Dividend"), payable on February 17, 2026, for holders of the Series A Preferred Stock as of the previously announced record date, January 26, 2026 (the "Record Date"). Only holders of shares of Series A Preferred Stock as of the Record Date will be entitled to receive the Declared Dividend on February 17, 2026 with respect to such shares.
Payment of the Redemption Price will be made in two parts. First, the Depositary Shares will be redeemed on the Redemption Date at a redemption price equal to the Base Redemption Amount (equivalent to $25,000 per share of the Series A Preferred Stock), payable only to the holders of the Series A Preferred Stock as of the Redemption Date. Second, on February 17, 2026, holders of record of the Series A Preferred Stock as of the Record Date will receive the Declared Dividend, which represents the entirety of the Accrued Dividends.
There are no additional Accrued Dividends payable with respect to the Series A Preferred Stock. Following payment of the Redemption Price, the Company will have no further obligations with respect to dividends or other amounts on the redeemed shares.
Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to Computershare Trust Company, N.A. for the redemption of the Series A Preferred Stock. The address for the redemption agent is as follows:
Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St., Suite 101
Canton, MA 02021
Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the redemption price for the Depositary Shares in which they have a beneficial interest.
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 driving continuous improvement. Learn more at SpireEnergy.com.
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. For a more complete description of these uncertainties and risk factors, see the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, each as filed with the Securities and Exchange Commission.
Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.com
Media Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com
SOURCE Spire Inc.
FAQ**
How does the redemption of Spire Inc. SR’s 5.90% Series A Cumulative Redeemable Preferred Stock impact the company's overall capital structure and liquidity position?
What factors influenced Spire Inc. SR's decision to redeem the Series A Preferred Stock rather than continue its dividend payments?
How might the redemption of Spire Inc. SR’s preferred stock affect future dividend policies or financing strategies for the company?
Can you elaborate on how the redemption process for Spire Inc. SR’s Series A Preferred Stock will be handled and communicated to investors beyond the scheduled dates?
**MWN-AI FAQ is based on asking OpenAI questions about Spire Inc. (NYSE: SR).
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