3.83% Dividend Yield, 21 Years of Dividend Hikes – The Gas Utility Fueling Regional Growth and Energy Reliability Foll
Keeping energy flowing under changing landscapes
Spire powers homes and businesses in the Midwest and Southeast with natural gas, delivering critical energy through a blend of regulated utilities and midstream assets. The company balances regulatory oversight with robust infrastructure investments designed to expand capacity, improve safety, and optimize assets—ensuring service reliability amid a shifting energy landscape.
Spire (SR)
Financial Score: 86 / 99
Quick Tip
To keep your portfolio strong, stay on top of the financials for each company you hold. Solid companies mean better returns, so be sure to check in on their quarterly and annual numbers.Interesting stocks usually score 80+ on the Financial Scale, with top players hitting 90+. If that score dips below 80, it might be a good time to consider cutting ties before things take a turn.Serving approximately 1.7 million customers primarily across Missouri, Alabama, Mississippi, and Tennessee, Spire reported adjusted earnings per share of $4.44 for fiscal 2025—a 7.5% increase from $4.13 in fiscal 2024. Capital investments reached $922 million with nearly 90% focused on utilities, reflecting ongoing modernization efforts. The company projects adjusted EPS between $5.25 and $5.45 in fiscal 2026, and between $5.65 and $5.85 in fiscal 2027, supporting a long-term growth rate of 5% to 7%.
Dividend profile built on growth and moderate payout
Spire recently increased its annual dividend by 5.1% to $3.30 per share, yielding 3.83% with a payout ratio near 67.84%. With 21 consecutive years of dividend hikes and a five-year growth rate of +27%, the dividend policy demonstrates a balance between rewarding shareholders and reinvesting in capital-intensive utility infrastructure.
Q4 2025 financial highlights and growth drivers
Fiscal 2025 earnings totaled $275.5 million, up from $247.4 million the previous year. Earnings from gas utilities rose nearly 5% to $231 million, midstream earnings jumped by almost $23 million to $56 million, and gas marketing earnings increased by $2.5 million to $26 million. The company maintains a 10-year capital plan of $11.2 billion, with 70% allocated to safety and reliability projects. Rate base growth is expected to reach $10.7 billion by fiscal 2030, up from an estimated $8.2 billion at the end of fiscal 2026.
Fun Fact – Expanding Tennessee presence with Piedmont acquisition Spire finalized the acquisition of Piedmont Natural Gas Tennessee operations in 2025, adding approximately 222,000 customer connections. This strategic expansion strengthens regional market share, enhances operational scale, and creates cost efficiencies through unified management.
Final Take
Spire offers a strong combination of dividend income and growth potential in regulated natural gas markets, backed by an aggressive capital investment program and strategic acquisitions. Its moderate payout ratio and consistent dividend increases provide income reliability, while expanding assets and infrastructure investments underpin earnings growth. Operational execution and regulatory dynamics remain critical watchpoints, but the company’s diversified footprint and disciplined strategy support long-term resilience. Financial Score: 86 confirms solid fundamentals and disciplined management, marking Spire as a quality pick for income-oriented investors focused on utility growth and stability.
Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.
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