Spire Affirms FY19 NEE Outlook, Declares Dividend - Quick Facts

(RTTNews) - While reporting financial results for the third quarter, Spire Inc. (SR) on Tuesday affirmed its net economic earnings outlook for the full year 2019. Further, the company raised its capital expenditures forecast and declared a quarterly dividend.

For fiscal 2019, the company continues to expect net economic earnings in a range of $3.70 to $3.80 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.75 per share for the year. Analysts' estimates typically exclude special items.

Further, the company increased its capital expenditures forecast for fiscal 2019 to $780 million, reflecting higher utility spend and updates for Spire STL Pipeline and Spire Storage. Its five-year (2019 - 2023) capital spend outlook also increased to $2.9 billion.

"With strong performance through the first three quarters of fiscal 2019, we're on track to achieve our financial and operating performance targets for the year," said Suzanne Sitherwood, president and chief executive officer.

Additionally, the Spire board of directors declared a quarterly common stock dividend of $0.5925 per share, payable October 2, 2019, to shareholders of record on September 11, 2019.

The board of directors also declared a prorated regular quarterly dividend of $0.34417 per depository share on the company's 5.90 percent Series A Cumulative Redeemable Perpetual Preferred Stock, payable August 15, 2019, to holders of record on August 5, 2019.