Southern (NYSE:SO) isn't shutting off the lights on its dividend. The company has declared a fresh quarterly distribution, which is to be $0.5075 per share paid on Sept. 6 to shareholders of record as of Aug. 5. That amount matches the company's previous dividend, which was paid in early June. Before that, the utility was marginally less generous, dispensing $0.49 per share.
Southern's distribution probably is not going to dim anytime soon. In the press release announcing the news, the company emphasized that the upcoming payout will be its 263rd consecutive quarterly disbursement in a row.
The just-declared dividend annualizes to $2.03 per share. That yields 4.5% at Southern's most recent closing stock price of $45.55.
Fool contributor Eric Volkman has no position in Southern. The Motley Fool recommends Southern. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.