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Data last updated: Jul 18, 2026
Snapshot (as of Jul 18, 2026): The Southern Company (SO) pays a $2.98 annual dividend ($0.76 quarterly), yielding 3.13% at $95.30/share. Next ex-dividend date 2026-05-18. 42+ consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.13%
Annual Dividend: $2.98 per share
Payout Ratio: 70.0%
Ex-Dividend Date: 2026-05-18
Dividend Frequency: quarterly
Sector: Utilities
Years of Dividend History: 45
The Southern Company dividend comes from one of the largest energy utilities in the United States, serving approximately 8.7 million electric and gas customers across the Southeast and Midwest. SO pays $2.98 per share annually, with dividends distributed quarterly and the next ex-dividend date set for May 18, 2026. The current yield stands at 3.04%. With a beta of 0.332, SO stock carries substantially lower price volatility than the broader market, which suits income investors who prioritize payment reliability over capital appreciation.
The Southern Company pays out 70.0% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level is supported by the regulated nature of SO's business: electricity and natural gas distribution to millions of residential, commercial, and industrial customers generates predictable, recurring demand that underpins The Southern Company dividend safety. The primary pressure point is that a 70% payout leaves limited room to absorb earnings disruptions without affecting the dividend.
The Southern Company dividend history shows a CAGR of 3.3% per year from 2011 to 2025. Per-share payments grew from $1.874 to $2.94 over that period (2026 data is partial and excluded from this calculation). The smallest annual increase in the window was 2.8% in 2025. Growth is slow but unbroken, which tells income investors more about the company's priorities than any single year's raise does.
| 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 four decades of uninterrupted increases. SO is a Dividend Aristocrat with 42 consecutive years of dividend growth, a streak that reflects the predictable cash flows of its electricity and natural gas distribution operations. The trade-off is straightforward: the 3.3% annual growth rate barely outpaces inflation, and the 70% payout ratio leaves little room for acceleration. What an investor gets is a 3.04% yield, currently above the 5-year average of 2.84%, with growth that is slow but has not stopped.
SO is a Dividend Aristocrat with 42 consecutive years of dividend increases.
| Payment Date | Amount per Share |
|---|---|
| 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 |
| 2024-02-16 | $0.7000 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.5000 |
| 2025 | $2.9400 |
| 2024 | $2.8600 |
| 2023 | $2.7800 |
| 2022 | $2.7000 |
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