Dividend Increase Announcement
On April 16th, Southern Company announced a dividend increase of 3.4%. This will increase their dividend per month from $0.58 to $0.60. It is payable on June 6th for shareholders of record on May 21st. The new monthly dividend represents an annualized dividend amount of $2.40 per share as compared to the current annualized dividend amount of $2.32 per share.
Southern Company Dividend Information
Annual Dividend: $2.40
Payout Ratio: 82.5%
Dividend Growth History: 16 years
Dividend Increase Effect On More Dividends
I currently am holding 23 shares of Southern Company thanks to my recent buy and sell. With this 3.4% increase it will add $1.84 to my Projected Annual Dividend Income. It isn’t much but I appreciate every dividend increase that I receive.
If you read my last article about my purchase of more Southern Company stock then you will know that I still like the company. I am glad that I was able to get my purchase in before this announcement but I would love to see the price drop below my cost basis before the ex-dividend date because I would probably add some more.
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? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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