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Data last updated: Sep 02, 2026
Snapshot (as of Sep 02, 2026): The Southern Company (SO) pays a $3.00 annual dividend ($0.76 quarterly), yielding 3.41% at $88.09/share. Next ex-dividend date 2026-08-17. 42+ consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.41%
Annual Dividend: $3.00 per share
Payout Ratio: 66.6%
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 energy utilities in the United States, serving approximately 8.7 million electric and gas customers across the Southeast and Midwest. SO pays $3.00 per share annually, with the most recent quarterly payment of $0.76 per share and a next ex-dividend date of August 17, 2026. The current yield stands at 3.37%. With a beta of 0.327, this is a low-volatility Dividend Aristocrat that fits income-focused investors who prioritize payment regularity over price swings.
The Southern Company pays out 66.6% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level is supported by the company's regulated electric and gas distribution operations, which serve millions of residential, commercial, and industrial customers across multiple states, generating demand that does not fluctuate sharply with economic cycles. The Southern Company dividend safety faces its main pressure from that same payout ratio: at 66.6%, there is limited room to absorb earnings shortfalls 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 window (2026 data is partial and excluded from the CAGR calculation). The smallest annual increase in the window was 2.8% in 2025, which confirms that growth is slow and has been narrowing at the lower end of the range.
| 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 stock fits income-focused investors who want a moderate (2–4%) yield backed by a utility business with broad geographic reach in regulated electricity and natural gas distribution. Forty-two consecutive years of dividend increases make SO a Dividend Aristocrat with one of the longer unbroken increase streaks in the sector. The trade-off is straightforward: the 3.3% annual growth rate keeps pace with inflation in most years but does not meaningfully expand purchasing power. What an investor gets is a low-beta, income-generating position with a payout ratio that leaves less cushion than lower-yielding peers. Growth is slow, and that limits upside for investors seeking accelerating income.
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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