Southern Company raises dividend rate 14th straight year; annualized rate goes to $2.17 per share

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Apr 20, 2015, 02:40 ET

ATLANTA, April 20, 2015 /PRNewswire/ -- Southern Company said today it is increasing its dividend by 7 cents per share on an annualized basis to a rate of $2.17 per share.

The increase marks the 14th straight year that Southern Company has raised the dividend on its common stock.

Southern Company also announced today a regular quarterly dividend -- including an increase of 1.75 cents per share over the prior quarter -- of 54.25 cents per share, payable June 6, 2015, to shareholders of record as of May 18, 2015. This marks 270 consecutive quarters -- dating back to 1948 -- that Southern Company will have paid a dividend to its shareholders.

"Southern Company's customer-focused business model has been the foundation of our success for more than a century," said Southern Company Chairman, President and CEO Thomas A. Fanning. "Our long-standing commitment to best meeting the energy needs of the families we are privileged to serve has enabled us to provide value for customers and shareholders alike."

With more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, listed by DiversityInc as a top company for Blacks and designated a 2014 Top Employer for Hispanics by Hispanic Network. The company received the Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Electric Light & Power magazine's Utility of the Year for 2012 and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.

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SOURCE Southern Company