Welcome to our dedicated page for Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on Southern stock.
The Southern Company reports news about an energy provider serving 9 million customers through electric operating companies in three states, natural gas distribution companies in four states, Southern Power, PowerSecure, fiber optics and telecommunications services. Recurring updates cover earnings, dividend actions and operating developments across Alabama Power, Georgia Power, Mississippi Power, Southern Power and Southern Company Gas.
Company news also includes Georgia Power matters before the Georgia Public Service Commission, including resource planning, capacity procurement, solar resources, transmission and distribution upgrades, grid reliability programs, storm readiness and customer safety communications. PowerSecure updates focus on distributed energy solutions such as utility-scale battery storage, solar generation, backup power and resiliency projects.
Southern Company announced significant progress at its Vogtle nuclear expansion project in Georgia. The generator at Vogtle Unit 3 successfully generated electricity and connected to the electric grid for the first time, a crucial step towards its commercial operation. The in-service date for Unit 3 is projected for May or June 2023. Meanwhile, hot functional testing for Vogtle Unit 4 has commenced, with plans to enter service in late 2023 or early 2024. The new units will provide clean energy, serving over 500,000 homes with zero emissions. Despite these advancements, the press release includes cautionary notes regarding potential risks that may affect timelines, costs, and construction due to various factors including supply chain issues and regulatory approvals. Southern Company's commitment to clean energy remains strong as it moves forward with this project.
Southern Company announced that four of its system attorneys have been selected for programs by the Leadership Council for Legal Diversity (LCLD). Nitin Datt, chief counsel at Southern Company Gas, and Julia Yun, senior counsel at Southern Company Services, will join the Fellows program, aimed at experienced attorneys from diverse backgrounds. Meanwhile, Jamillah Pritchett and Danielle Hines will participate in the Pathfinders program, targeting early-career attorneys. These initiatives focus on enhancing leadership skills and fostering relationships within the legal field. Jim Kerr, executive vice president and chief legal officer, expressed pride in their commitment to diversity, equity, and inclusion. Southern Company has supported LCLD for seven years, emphasizing its dedication to developing diverse talent in legal professions.
On April 17, 2023, Southern Company (NYSE: SO) announced an increase in its annualized dividend by 8 cents to $2.80 per share. This marks the 75th consecutive year of dividends equal to or greater than the previous quarter and the 22nd consecutive year of dividend increases. The regular quarterly dividend, effective June 6, 2023, is set at 70 cents per share, payable to shareholders as of May 15, 2023. Southern Company emphasizes its commitment to providing clean, reliable, and affordable energy, which supports its focus on long-term shareholder value and sustainable dividend growth.
Southern Linc, a subsidiary of Southern Company (SO), has announced the launch of L3Harris Technologies radios enabling cross-network communications across LTE and P25 Land Mobile Radio (LMR) networks. This offering includes the XL Converge™ and XL Onboard™ series, allowing private sector customers to utilize Mission-Critical Push-To-Talk (MCPTT) services over a 122,000 square mile coverage area. This deployment marks Southern Linc as the first LTE carrier to actively deploy LTE-to-LMR solutions. Both companies have customized the XL series radios to meet specific customer needs, enhancing interoperability. The XL-185P and XL-200P models are available now, with the XL-200M mobile solution launching next month.
Virginia Natural Gas (VNG) announced an increase in its natural gas supply sourced from companies committed to reducing methane emissions, following the Virginia State Corporation Commission's approval of its Sustainable Gas Program on April 13, 2023. This initiative allows VNG to supply up to half of its customers' energy demands with Next Generation Natural Gas as of March 2023. The program supports economy-wide decarbonization efforts, contributing to VNG's goal of achieving net zero greenhouse gas emissions by 2050. VNG has a long-term commitment to sourcing gas with lower emissions, facilitating customer satisfaction and environmental stewardship.
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Georgia Power announced the election of Steven R. Ewing to its board of directors on April 12, 2023. Ewing, who is the owner, president, and CEO of Wade Ford in Smyrna, Georgia, brings over 30 years of experience in the automotive industry. Wade Ford, the oldest Ford dealership in metro Atlanta, is also one of the largest Black-owned dealerships in the U.S. Ewing has prioritized exceptional customer service and community support through his dealerships.
Kim Greene, chairman of Georgia Power, highlighted Ewing's entrepreneurial spirit and expertise in e-mobility as valuable assets to the company. He is involved in various local organizations and has received awards for his public service. Georgia Power, a subsidiary of Southern Company (NYSE: SO), serves 2.7 million customers across Georgia, focusing on reliable and clean energy solutions.
NORTHAMPTON, MA / ACCESSWIRE / April 10, 2023 / Southern Company recently participated in a White House roundtable focused on cybersecurity in the Black community, featuring Curley Henry, VP and Deputy Chief Information Security Officer. This event honored Black History Month and aimed to tackle crucial issues like access to good jobs and economic security.
During the discussion, Henry emphasized the importance of enhancing cybersecurity and promoting pathways to tech jobs for underrepresented groups. The event also announced a significant funding initiative of approximately $90 million aimed at supporting cybersecurity apprenticeships. Henry expressed optimism about advancing diversity, equity, and inclusion in cybersecurity with governmental support.
Southern Company has announced a record charitable donation of $5.5 million from the 2022 TOUR Championship, significantly up from $3.7 million in 2021. This donation supports affordable housing initiatives in East Lake, with a focus on providing permanent homeownership for local residents by fall 2025. The TOUR Championship has raised over $48 million for regional nonprofits since 1998, benefiting organizations like the East Lake Foundation and First Tee - Metro Atlanta. Additionally, a Charity Challenge raised $1.385 million, featuring notable athletes. The 2023 tournament will take place August 23-27 at East Lake Golf Club.
Southern Company (NYSE: SO) will release its first-quarter earnings for 2023 on April 27, 2023, at 7:30 a.m. EDT. Following this, a conference call with Chairman and CEO Thomas A. Fanning, President Christopher C. Womack, and CFO Daniel S. Tucker will take place at 1 p.m. EDT on the same day. Investors and the public can access the live webcast of the conference call through the company's investor relations website. The company serves approximately 9 million customers in the Southeast and is committed to providing clean, reliable energy while aiming for net zero greenhouse gas emissions by 2050.