A dividend increase by Southern Company.
This week Southern Company (SO) announced a 3.4% increase in its quarterly.
The dividend is raised from $0.58 to $0.60. This marks the 17th consecutive year that Southern Company has raised the dividend on its common stock.
The dividend pay date is June 6, 2018 to shareholders of record on May 21, 2018 (ex dividend May 18, 2018).
President and CEO – Thomas A. Fanning said:” Southern Company has an outstanding 70-year track record of dividends and dividend growth. Today’s action by the board speaks to the long-term strength of our business.”
This marks 282 consecutive quarters – dating back to 1948 – that Southern Company will have paid a dividend to its shareholders that is equal to or greater than the previous quarter.
The new dividend amount represents an annualized dividend amount of $2.40 per share, up from $2.32. The dividend yield on current price is 5.15%.
My Vrijheid Fondsconsist of 50 shares of Southern Company and with this 3.4% increase it will add €2.75 ($3.40) after taxes, to my projected annual dividend income.
In 2018 Southern Company will pay me €82 dividend after taxes.
Again a nice increase from Southern Company! Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends.
Do you currently hold any stock in Southern Company and what do you think of this dividend increase? I like to hear from you!