The Southern Company (SO) announced that its quarterly dividend will be raised by 3.44% to 52.50 cents from 50.75 cents per share per quarter. This dividend increase is the company’s thirteenth consecutive annual increase. The new dividend is scheduled to be paid on June 6, 2014 to shareholders on record as of May 5, 2014. The new dividend rate results in an annualized yield of 4.65% based on SO’s closing price today.
My portfolio consists of 50 shares of The Southern Company, which increases my quarterly dividends from $25.38 to $26.25 and an annual dividend raise from $102 to $105.