Southern Company increases dividend for 19th consecutive year; annualized rate goes to $2.56 per share
ATLANTA, April 20, 2020 /PRNewswire/ -- Southern Company announced today it is increasing its dividend by 8 cents per share on an annualized basis to a rate of $2.56 per share.
This marks the 19th 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 64 cents per share, payable June 8, 2020, to shareholders of record as of May 18, 2020. 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.
"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."
About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. 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, Fortune's "World's Most Admired Companies" list, Forbes and the Women's Choice Award. To learn more, visit www.southerncompany.com.
SOURCE Southern Company
For further information: Media Contact: Schuyler Baehman, 404-506-5333 or 1-866-506-5333; Investor Relations Contact: Scott Gammill, 404-506-0901, email@example.com