Southern Company is increasing its dividend by 8 cents per share on an annualized basis to a rate of $2.56 per share, the company announced April 20.
This marks the 19th consecutive year that Southern Company has raised the dividend on its common stock.
Southern Company also announced regular quarterly dividend – including the increase of 2 cents per share over the prior quarter – of 64 cents per share, payable June 8, 2020, to shareholders of record as of May 18, 2020. The action by the board of directors 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.
“For more than 70 years, our overall shareholder value proposition has encompassed dividends and dividend growth,” said Southern Company Chairman, President and CEO Thomas A. Fanning. “Today’s action by the board reinforces the strength and resilience of Southern Company’s exceptional energy businesses.”