ATLANTA - Southern Company (NYSE: NYSE:SO), one of the leading energy providers in the Southeast, has announced an increase in its annual dividend rate to $2.88 per share, marking the 23rd consecutive year of dividend growth for the company. This increase represents an 8-cent rise from the previous dividend rate.
The company's board of directors declared a regular quarterly dividend of 72 cents per share, up 2 cents from the prior quarter. This dividend is payable on June 6, 2024, to shareholders of record as of May 20, 2024.
Southern Company's commitment to consistent shareholder returns is underscored by its track record of paying dividends equal to or greater than the previous quarter for 76 consecutive years. Chairman, President, and CEO Christopher C. Womack emphasized the company's dedication to delivering value to shareholders through regular and sustainable dividend growth, supported by its regulated utilities and energy infrastructure under long-term contracts.
Serving approximately 9 million customers across the Southeast and beyond, Southern Company operates electric companies in three states and natural gas distribution companies in four states. It also encompasses a competitive generation company, a fiber optics network, and telecommunications services. The company has set a goal to achieve net-zero greenhouse gas emissions by 2050 and is recognized for its commitment to innovation, resilience, and sustainability.
The announcement of the dividend increase is based on current expectations and plans, which are subject to various risks and uncertainties. Southern Company has cautioned that actual results could differ materially from those projected in forward-looking statements due to numerous factors, including regulatory changes, litigation, competition, demand fluctuations, and operational challenges.
This dividend increase announcement is based on a press release statement issued by Southern Company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.