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Data last updated: Oct 12, 2026
Snapshot (as of Oct 12, 2026): The Southern Company (SO) pays a $2.98 annual dividend ($0.76 quarterly), yielding 3.53% at $86.17/share. Next ex-dividend date 2026-08-17. 42+ consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.53%
Annual Dividend: $2.98 per share
Payout Ratio: 71.8%
Ex-Dividend Date: 2026-08-17
Dividend Frequency: quarterly
Sector: Utilities
Years of Dividend History: 45
The Southern Company dividend comes from one of the largest regulated electric utilities in the United States, serving retail and wholesale electricity customers across the Southeast while also distributing natural gas in Georgia, Illinois, Virginia, and Tennessee. SO currently yields 3.53%, with trailing twelve-month payments of $2.98 per share paid quarterly. The next ex-dividend date is August 17, 2026, with the most recent quarterly payment of $0.76 per share. A beta of 0.301 makes SO stock one of the lower-volatility options in the market, which suits income-focused investors who prioritize payment predictability over price appreciation.
The Southern Company pays out 71.8% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level is supported by the regulated nature of its electric and natural gas distribution businesses, where demand from retail customers provides a recurring revenue base. The Southern Company dividend safety faces its most direct pressure from that same payout ratio: at 71.8%, there is limited room to absorb an earnings shortfall without affecting the dividend.
Over the past 14 years, The Southern Company dividend history shows a CAGR of 3.3% per year from 2011 to 2025, with per-share payments rising from $1.8725 to $2.94 (2026 is a partial year and excluded from this calculation). Growth has been remarkably even across the window. The smallest annual increase in the window was 2.8% in 2025, which tells income investors that growth is slow but has not stalled.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +2.9% | $2.70 (2022) | $2.94 (2025) |
| 5-Year | +3.0% | $2.54 (2020) | $2.94 (2025) |
| 10-Year | +3.2% | $2.15 (2015) | $2.94 (2025) |
The Southern Company fits income-focused investors who want a regulated utility paying a moderate (2–4%) yield with minimal price volatility. At 3.53%, the current yield sits nearly in line with the 5-year average of 3.55%, so there is no meaningful valuation gap to exploit. What SO does offer is a 42-year streak of consecutive dividend increases, earning its Dividend Aristocrat status through decades of unbroken raises. The trade-off is straightforward: an investor gets a low-beta, income-generating utility with predictable but slow growth, and accepts a 71.8% payout ratio that leaves little cushion if earnings come under pressure.
SO is a Dividend Aristocrat with 42 consecutive years of dividend increases.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-17 | $0.7600 |
| 2026-05-18 | $0.7600 |
| 2026-02-17 | $0.7400 |
| 2025-11-17 | $0.7400 |
| 2025-08-18 | $0.7400 |
| 2025-05-19 | $0.7400 |
| 2025-02-18 | $0.7200 |
| 2024-11-18 | $0.7200 |
| 2024-08-19 | $0.7200 |
| 2024-05-17 | $0.7200 |
| Year | Total Dividends |
|---|---|
| 2026 | $2.2600 |
| 2025 | $2.9400 |
| 2024 | $2.8600 |
| 2023 | $2.7800 |
| 2022 | $2.7000 |
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