Welcome to our dedicated page for The Southern Company news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on The Southern Company stock.
The Southern Company (NYSE: SO) is a prominent American gas and electric utility holding company headquartered in Atlanta, Georgia, with executive offices in Birmingham, Alabama. As of 2021, it ranks as the second-largest utility company in the U.S. by customer base, serving around 9 million customers. The company's operational footprint spans vertically integrated electric utilities in Georgia, Alabama, and Mississippi, and natural gas distribution utilities in four states. This robust infrastructure includes 50 gigawatts of rate-regulated generating capacity, primarily designated for customer service in these states. Moreover, its subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy facilities across the U.S., selling electricity primarily through long-term contracts.
Southern Company’s commitment to innovation is highlighted by several recent initiatives. Notably, it reported significant financial achievements for 2023, with fourth-quarter earnings of $855 million, or 78 cents per share, compared to a loss in the same period in 2022. The company also completed Plant Vogtle Unit 3, the first new nuclear unit in the U.S. in over three decades, and recently announced that Plant Vogtle Unit 4 has achieved commercial operation, solidifying its position as a leader in clean energy production.
In terms of sustainability, Southern Company is heavily investing in renewable energy projects. The South Cheyenne Solar Facility in Wyoming, the company's 30th solar facility, recently became operational, adding to Southern Power's solar portfolio, which now exceeds 2,740 MW. The company also envisions a significant expansion of its solar and renewable capacity, aiming to reach approximately 20,000 MW by 2030 as part of its net zero greenhouse gas emissions goal by 2050.
Southern Company is also deeply involved in innovative community projects. For instance, Nicor Gas, a subsidiary of Southern Company Gas, recently launched Smart Neighborhoods™ in Aurora, Illinois, emphasizing affordable net-zero energy communities. Furthermore, the company has partnered with WeaveGrid to promote electric vehicle (EV) adoption by introducing programs that simplify home charging and offer utility incentives in Alabama and Georgia.
The company's dedication to community and diversity extends to initiatives like the UNDERRATED Golf Tour, aiming to provide opportunities to aspiring golfers from underrepresented backgrounds. Southern Company’s commitment to integrity, excellence, and respect is mirrored in its partnership with this tour, underlining its broader mission to foster inclusion within the communities it serves.
Southern Company’s corporate culture and hiring practices have earned national recognition from Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, and the Human Rights Campaign, showcasing the company's focus on excellence and innovation. Through ongoing investments in clean energy, smart technologies, and community development, Southern Company continues to transform energy into economic, environmental, and social progress for a sustainable future.
On February 1, 2022, Mississippi Power announced a request for proposals (RFP) for solar photovoltaic renewable resources, aiming to enhance its energy portfolio. Proposals must have a minimum capacity of 20 MWAC and be submitted by March 15, 2022. The company seeks 25-year power purchase agreements from non-affiliated bidders, ensuring it retains environmental attributes from projects situated in Mississippi and interconnected to its transmission system. Mississippi Power is a subsidiary of Southern Company, serving 191,000 customers across 23 counties.
Georgia Power has filed its 2022 Integrated Resource Plan (IRP) with the Georgia Public Service Commission, outlining a strategic roadmap for meeting future energy needs. The plan includes transitioning to cleaner resources, retiring outdated coal units, and doubling renewable capacity to 11,500 MW by 2035. Proposed investments focus on enhancing grid reliability, energy storage, and customer efficiency programs. The IRP aims to ensure affordable and reliable energy for its 2.7 million customers while embracing new technologies for a sustainable energy landscape.
Alabama Power has elected Kevin Savoy and Charisse Stokes to its board of directors, effective February 1, 2022. Savoy, VP at Great Southern Wood Preserving, brings experience in logistics and pressure-treated wood production, while Stokes, president of Tidal IT Solutions, specializes in tech and innovation strategy. Both new members are recognized community leaders and are expected to contribute valuable insights to the company. Alabama Power, a subsidiary of Southern Company (NYSE:SO), serves 1.5 million customers in Alabama.
Southern Company announced its membership in the Hydrogen Council, aiming for net zero operations and affordable energy. The Council, comprising 134 global firms, focuses on hydrogen's role in decarbonization and economic growth. Southern Company emphasizes its commitment through R&D initiatives in low-carbon hydrogen production and partnerships to advance hydrogen technologies. The company aims to integrate hydrogen into existing infrastructure, working on projects like HyBlend, which blends hydrogen with natural gas. This membership aligns with Southern Company's goal of providing safe, reliable energy while promoting sustainability.
Georgia Power is actively restoring services disrupted by Winter Storm Izzy, which impacted thousands of customers across the state on January 16, 2022. Over 110,000 customers had their power restored since January 15, leaving about 24,000 outages remaining, predominantly in Northeast Georgia. The utility focuses on areas with the greatest need and prioritizes public safety. Georgia Power urges customers to stay safe around downed lines and offers various tools for outage updates, including mobile apps and an online outage map.
Georgia Power is actively responding to the impacts of Winter Storm Izzy, which has left approximately 61,000 customers without power as of 10 a.m. Sunday. Since the storm began, 41,000 customers have had their power restored. The company is mobilizing crews from across Georgia and may utilize resources from its wider Southern Company network to assist with recovery efforts. Safety remains a priority as Georgia Power advises customers to stay vigilant and utilize available safety tools and resources to stay informed during this severe weather event.
Georgia Power is preparing for severe winter weather in North and Central Georgia, including high winds, freezing rain, and snow. With potential service interruptions expected, the company encourages customers to stay informed and safe by visiting GeorgiaPower.com/WinterPrep. Tips include building an emergency kit, paying attention to weather alerts, and avoiding downed power lines. Georgia Power's Outage Alert service and mobile app provide real-time updates and resources for customers. The company aims to deliver reliable energy and excellent customer service during challenging weather conditions.
Southern Company announced a quarterly dividend of 66 cents per share, payable on Mar. 7, 2022, to shareholders of record by Feb. 22, 2022. This marks over 70 years of consistent dividend payments, maintaining or increasing dividends each quarter. Southern Company serves 9 million customers and has a diverse energy portfolio including nuclear, natural gas, renewables, and energy efficiency solutions.
Southern Company will release its fourth quarter 2021 earnings on Feb. 17, 2022, at 7:30 a.m. EST. The company's CEO Thomas A. Fanning and CFO Daniel S. Tucker will discuss the results in a conference call set for 1 p.m. EST on the same day. Interested parties can access the live webcast and replays through the company's investor relations website. Southern Company serves 9 million customers across several states and is committed to clean and reliable energy solutions, continually recognized for its customer service and innovation.
BIRMINGHAM, Ala., Jan. 12, 2022 /PRNewswire/ -- Alabama Power Company announced quarterly dividends for its preferred stocks. The dividends include:
- 4.20% - $1.05 per share
- 4.52% - $1.13 per share
- 4.60% - $1.15 per share
- 4.64% - $1.16 per share
- 4.72% - $1.18 per share
- 4.92% - $1.23 per share
- Class A Preferred Stock: 5.00% - $.3125 per share
The dividends are for the quarter ending March 31, 2022, payable on April 1, 2022, to shareholders of record on March 17, 2022.
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