The Southern Company (NYSE:SO) is included among the 10 Best and Safe Dividend Stocks to Buy Now.
An aerial view of a nuclear plant, its domes casting a unique shadow.
The Southern Company holds a strong position as a leading player in nuclear energy. Its subsidiary, Southern Nuclear, manages eight nuclear units across three facilities, including the recently completed Vogtle Units 3 and 4, which mark the first newly built commercial nuclear units in the US in nearly 30 years.
Through its various subsidiaries, The Southern Company is involved in power generation, transmission, electric and gas utilities, nuclear operations, and telecom. It expects power demand to grow at an annualized rate of 8% through 2029, which supports projected long-term earnings-per-share growth of 5% to 7% annually, more than enough to support ongoing dividend increases.
The Southern Company has a strong history of dividend reliability, having raised its dividend for 24 years in a row and maintaining uninterrupted payments for the past 78 years without any cuts, which makes it one of the best dividend stocks to invest in. Currently, the company offers a quarterly dividend of $0.74 per share and has a dividend yield of 3.10%, as of July 27.
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