Southern Company increases dividend for 18th consecutive year; annualized rate goes to $2.48 per share

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Apr 15, 2019, 15:14 ET

ATLANTA, April 15, 2019 /PRNewswire/ -- Southern Company announced today it is increasing its dividend by 8 cents per share on an annualized basis to a rate of $2.48 per share.

This marks the 18^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 62 cents per share, payable June 6, 2019, to shareholders of record as of May 20, 2019. Today's action by the board ensures Southern Company will have paid a dividend to its shareholders that is equal to or greater than the previous quarter every quarter dating back to 1948.

"Today's action by our board of directors reinforces the strength and sustainability of Southern Company's business," said Southern Company chairman, president and CEO Thomas A. Fanning. "For decades, our dividends, dividend growth and overall shareholder value proposition have been supported by an outstanding portfolio of energy businesses."

About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries as of Jan. 1, 2019. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Forbes and the Women's Choice Award. To learn more, visit www.southerncompany.com.

SOURCE Southern Company