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Southern Company (NYSE: SO ) announced today that it is raising its dividend for the 12th straight year. Effective June 6 for shareholders of record as of May 6, the utility's annual dividend will increase 3.6% to $2.03 per share.
At its current share price of $47.36, this represents a 0.2 percentage point dividend yield increase to 4.3%.
"For more than 100 years, Southern Company has provided consistent value for customers and shareholders alike," said Chairman, President, and CEO Thomas Fanning in a statement today. "Our long history of providing clean, safe, reliable and affordable electricity-combined with our industry-leading financial integrity and commitment to providing solutions through innovation-leaves us well-positioned to meet the energy and business challenges of the future."
According to Southern, this upcoming quarter will be the 262nd consecutive quarter that the utility has distributed a dividend to shareholders.