Southern said on July 17, 2023 that its board of directors had declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Previously, the company paid $0.70 per share.
Shares must be purchased before the ex-div date of August 18, 2023 to be eligible for the dividend. Shareholders of record as of August 21, 2023 will receive payment on September 6, 2023.
At the current share price of $73.06/share, the dividend yield of the stock is 3.83%.
Looking back five years and taking a sample each week, the average dividend yield was 4.28%, the lowest 3.39% and the highest 5.74%. The standard deviation of returns is 0.50 (n=236).
The current dividend yield is 0.89 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.88. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 2522 funds or institutions declaring positions in the South. This is a decrease of 113 owner(s) or 4.29% in the last quarter. Average portfolio weight of all funds dedicated to SO is 0.40%, an increase of 20.28%. The total number of shares held by institutions has increased over the past three months by 0.77% to 787,444,000 shares. 
SO’s put/call ratio is 0.43, indicating a bullish outlook.
Analyst price forecast suggests 2.61% upside
As of July 6, 2023, the one-year average price target for the South was 74.97. The forecast ranges from a low of 60.60 to a high of $84.00. The average price target represents a 2.61% increase from its last published closing price of 73.06.
Check out our ranking of companies with the biggest upward price target.
Southern’s forecast annual revenue is 26,553 million, down 8.79%. Projected annual non-GAAP EPS is 3.88.
What are the other shareholders doing?
Price T Rowe Associates owns 61,473,000 shares representing 5.64% ownership of the company. In its previous filing, the company stated that it holds 60,189,000 shares, representing a raise of 2.09%. The company decreases its portfolio allocation in SO of 7.39% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 33,717,000 shares representing 3.09% ownership of the company. In its previous filing, the company said it held 33,098,000 shares, representing a raise of 1.84%. The company decreases its SO portfolio allocation of 8.35% over the last quarter.
Massachusetts Financial Services holds 27,377,000 shares representing 2.51% ownership of the company. In its previous filing, the company said it held 26,559,000 shares, representing a raise 2.99%. The company decreases its portfolio allocation in SO of 1.53% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares owns 25,403,000 shares representing 2.33% ownership of the company. In its previous filing, the company stated that it holds 25,167,000 shares, representing a raise by 0.93%. The company decreases its SO portfolio allocation of 8.79% over the last quarter.
Geode Capital Management holds 19,364K shares representing 1.78% ownership of the company. In its previous filing, the company said it held 19,514,000 shares, which represents a decrease by 0.78%. The company decreases its portfolio allocation in SO of 10.79% over the last quarter.
General information about the south
(This description is provided by the company.)
Southern Company brings power to homes and businesses across the country. The company has made a name for itself as a leading producer of clean, safe, reliable and affordable energy, and it approaches every day as an essential step in building the future of energy. It is always looking to the future, and innovations in the industry – from new nuclear to the deployment of electric transportation and renewable energy – help brighten the lives and businesses of millions of customers nationwide.
Further reading:
- THE SOUTHERN COMPANY COMPUTERSHARE TRUST COMPANY, NA, TWENTY-EIGHTH SUPPLEMENTARY INSTRUMENT DATED MAY 18, 2023 SERIES 2023B 4.85% SENIOR NOTES DUE JUNE 15, 2028 TABLE OF CONTENTS1
- THE SOUTHERN COMPANY COMPUTERSHARE TRUST COMPANY, NA, TWENTY-NINTH SUPPLEMENTARY INSTRUMENT DATED MAY 18, 2023 SERIES 2023C 5.20% SENIOR NOTES DUE JUNE 15, 2033 TABLE OF CONTENTS1
- May 18, 2023
- May 18, 2023
- Proxy of Moses H. Feagin.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.