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.
Georgia Power is promoting Careers in Energy Week from October 19-23, 2020, by launching poweringcareers.com, aimed at high school students and career influencers. The initiative seeks to raise awareness about energy careers and their significance. The company emphasizes workforce development as essential for supporting Georgia's economy, partnering with educational institutions to prepare students for future energy jobs. A virtual event on October 20 will showcase various careers in energy, highlighting Georgia Power's commitment to fostering a skilled workforce.
Southern Company has declared a quarterly dividend of 64 cents per share on its common stock, payable on Dec. 7, 2020, to shareholders on record by Nov. 16, 2020. This marks over 70 consecutive years of quarterly dividends at or above the prior quarter's rate. Southern Company serves 9 million customers across three states, focusing on clean, reliable, and affordable energy solutions. The company prioritizes customer service and innovation, maintaining affordable prices below the national average.
Georgia Power announced the completion of cold hydro testing for Vogtle Unit 3, now 94% complete, as part of its nuclear expansion project. This milestone paves the way for hot functional testing ahead of initial fuel load. The overall Vogtle expansion project is 88% complete. The company expects to meet the regulatory-approved in-service dates of November 2021 and 2022 for Units 3 and 4, respectively. With over 7,000 workers on site and 800 permanent jobs expected, this project will provide carbon-free energy for over 500,000 homes.
Georgia Power employees have raised over $35,000 this year and more than $2 million since 1997 for the American Cancer Society (ACS) through the annual 'Run for the Reason' relay event, despite challenges posed by the COVID-19 pandemic. The fundraising has transitioned to virtual formats, enabling continued support for critical research. Additionally, employees contributed over $23,000 to ACS's 'Relay for Life' events. ACS anticipates 1.8 million new cancer cases and 606,320 deaths in the U.S. this year, with a total investment of over $4.9 billion in cancer research since 1946.
Georgia Power encourages customers to review their rate plans to optimize energy costs amid seasonal changes. The company offers various plans including Pay by Day, Smart Usage, FlatBill, Plug-In Electric Vehicle (PEV), Nights & Weekends, PrePay, and standard Residential Services. Resources for energy savings and customized reports through an Online Energy Checkup are also available. Georgia Power aims to provide reliable energy at competitive rates and is recognized for customer satisfaction, serving 2.6 million customers across Georgia.
Alabama Power Company has declared its regular quarterly dividends on outstanding preferred stock. For the quarter ending December 31, 2020, dividends amount to:
- 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
Dividends are payable on January 1, 2021, to shareholders of record on December 17, 2020. Alabama Power is a subsidiary of Southern Company (NYSE: SO), serving over 1.4 million customers.
Georgia Power emphasizes the significance of landscaping choices during fall planting season to enhance reliability and reduce power outages. The company advises customers to maintain clear areas around power lines, highlighting that tree limbs can disrupt service during storms. Georgia Power recommends three planting zones: Tall (60+ feet), Medium (up to 40 feet), and Low (up to 25 feet). Additionally, Georgia Power manages 160,000 acres and 24,000 miles of transmission lines, ensuring reliable service for 2.6 million customers statewide.
Georgia Power is deploying 150 personnel and 150 contract teams to assist Mississippi Power in response to Hurricane Delta. The utility is coordinating with other companies through a mutual assistance network to manage local service interruptions effectively. Preparations include pandemic safety measures for employees and customers. Georgia Power's storm response process focuses on assessing conditions and making repairs quickly. The company aims to maintain reliable energy delivery to its 2.6 million customers, utilizing a diverse energy generation mix. For more details, visit GeorgiaPower.com.
Georgia Power emphasizes fire safety during National Fire Prevention Week (Oct. 4-10) by highlighting the risks of in-home electrical issues, which account for over 13% of structure fires in the U.S. (2012–2016). The company provides essential safety tips, including avoiding combustible storage near electrical equipment, preventing overloads, and knowing the proper use of fire extinguishers. Georgia Power, a subsidiary of Southern Company (NYSE: SO), is committed to delivering safe, reliable energy, and enhancing community awareness regarding electrical safety.
Georgia Power is highlighting Energy Efficiency Day, offering tips for customers to enhance energy savings during the colder months. Key suggestions include:
- Utilizing Natural Light to warm homes.
- Maintaining HVAC Systems to optimize performance.
- Installing Smart Thermostats for automatic adjustments.
- Sealing Windows and Doors to reduce heat loss.
- Improving Insulation to conserve energy year-round.
Additionally, Georgia Power's Marketplace features various energy-efficient products and incentives for customers seeking to save.
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