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SOUTHERN
COMPANY is one of the world's leading energy suppliers and
the largest producer of electricity in America. Our goal is to grow 8
percent annually. We're producing and acquiring more energy and selling
it to large wholesale customers in targeted regions throughout North America
and around the world. Our strategy includes building and buying more generating
plants and gaining access to more natural gas. We're aiming to be the
best investment in our industry, and we plan to achieve that through aggressive
growth.
FINANCIAL
HIGHLIGHTS
|
|
|
1999
|
|
1998
|
|
change
|
|
| |
|
|
| |
Operating revenues
(in millions)
|
$11,585
|
|
$11,403
|
|
1.6
|
%
|
| |
Earnings as
reported (in millions)
|
$1,276
|
|
$977
|
|
30.6
|
%
|
|
*
|
Earnings from
operations (in millions)
|
$1,303
|
|
$1,225
|
|
6.4
|
%
|
| |
Basic and diluted
earnings per share as reported
|
$1.86
|
|
$1.40
|
|
32.9
|
%
|
|
*
|
Basic and diluted
earnings per share from operations
|
$1.90
|
|
$1.76
|
|
8.0
|
%
|
| |
Dividends per
share
|
$1.34
|
|
$1.34
|
|
—
|
|
| |
Dividend yield
(percent)
|
5.7
|
|
4.6
|
|
23.9
|
%
|
| |
Average shares
outstanding (in millions)
|
685
|
|
697
|
|
(1.7)
|
%
|
| |
Return on average
common equity (percent)
|
13.43
|
|
10.04
|
|
33.8
|
%
|
| |
Book value per
share
|
$13.82
|
|
$14.04
|
|
(1.6)
|
%
|
| |
Market price
(year-end, closing)
|
23
|
1/2
|
29
|
1/16
|
(19.1)
|
%
|
| |
Total market
value of common stock (year-end, in millions)
|
$15,646
|
|
$20,278
|
|
(22.8)
|
%
|
| |
Total assets
(in millions)
|
$38,396
|
|
$36,191
|
|
6.1
|
%
|
|
*
|
Southern Energy's
earnings from operations (in millions)
|
$355
|
|
$239
|
|
48.5
|
%
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