Southern Company increases dividend for 17th consecutive year; annualized rate goes to $2.40 per share

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Apr 16, 2018, 04:20 ET

ATLANTA, April 16, 2018 /PRNewswire/ -- Southern Company announced today it is increasing its dividend by 8 cents per share on an annualized basis to a rate of $2.40 per share.

This marks the 17^th consecutive year that Southern Company has raised the dividend on its common stock.

Southern Company also announced today a regular quarterly dividend – including the increase of 2 cents per share over the prior quarter – of 60 cents per share, payable June 6, 2018, to shareholders of record as of May 21, 2018. This marks 282 consecutive quarters – dating back to 1948 – that Southern Company will have paid a dividend to its shareholders that is equal to or greater than the previous quarter.

"Southern Company has an outstanding 70-year track record of dividends and dividend growth," said Southern Company Chairman, President and CEO Thomas A. Fanning. "Today's action by the board speaks to the long-term strength of our business."

About Southern Company

Southern Company (NYSE: SO) is America's premier energy company, with 46,000 megawatts of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million electric and gas utility customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric utilities in four states, natural gas distribution utilities in seven states, a competitive generation company serving wholesale customers across America and a nationally recognized provider of customized energy solutions, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are inventing America's energy future by developing the full portfolio of energy resources, including carbon-free nuclear, 21st century coal, natural gas, renewables and energy efficiency, and creating new products and services for the benefit of customers. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity by DiversityInc, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a Top Employer for Hispanics by Hispanic Network. Visit our website at www.southerncompany.com.

SOURCE Southern Company