Southern Co. increases dividend for 15th year

Southern Co. is increasing its dividend by 7 cents per share on an annualized basis to a rate of $2.24 per share, the company announced Monday.

The increase marks the 15th straight year that Southern Co. has raised the dividend on its common stock.

The company also announced a regular quarterly dividend, including an increase of 1.75 cents per share over the prior quarter, of 56 cents per share, payable June 6 to shareholders of record as of May 16. This marks 274 consecutive quarters, dating back to 1948, that Southern Co. will have paid a dividend to its shareholders that is equal to or greater than the previous quarter.

Southern Company Chairman Thomas Fanning said, "This long-standing commitment to best meeting the energy needs of the customers we serve continues to drive both customer and shareholder value."

This story was originally published April 18, 2016 at 4:25 PM with the headline "Southern Co. increases dividend for 15th year ."