Welcome to our dedicated page for The Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on The 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.
Georgia Power has introduced a series of interactive videos aimed at helping children engage with STEM topics from home during the summer. These videos provide hands-on activities using common household items, focusing on concepts such as energy transformation and solar energy. The Learning Power program, which partners with Georgia educators, has reached over 790,000 students since 2011, offering free educational resources aligned with state standards. Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), is committed to providing reliable energy and exceptional customer service.
Southern Company has announced a regular quarterly dividend of 64 cents per share on common stock, payable on Sept. 8, 2020. Shareholders of record as of Aug. 17, 2020 will receive this dividend. The company has maintained its dividend payment for over 70 years, consistently matching or exceeding previous quarter amounts. Serving 9 million customers, Southern Company is committed to providing reliable and affordable energy while advancing sustainable energy solutions.
The board of directors of Alabama Power Company has declared quarterly dividends on preferred stock for the quarter ending September 30, 2020. Dividends include $1.05 per share for 4.20%, $1.13 for 4.52%, $1.15 for 4.60%, $1.16 for 4.64%, $1.18 for 4.72%, and $1.23 for 4.92%. For Class A Preferred Stock, the dividend is $.3125 per share at a 5.00% rate. Payment will occur on October 1, 2020, to shareholders of record on September 16, 2020. Alabama Power serves over 1.4 million customers with electricity prices below the national average.
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Georgia Power has introduced a special payment plan to assist customers facing past-due balances due to the COVID-19 pandemic, allowing payment over six months from October 2020 to March 2021 without late fees. Disconnections are suspended until July 15. Customers can switch to the PrePay plan to pay their outstanding balances. Additionally, the Georgia Public Service Commission approved a 17.2% reduction in fuel rates, saving residential customers around $10.26 monthly through September 2020. Further, a $51.5 million credit will be issued in June.
On July 14, 2020, Southern Company Gas announced that three of its local distribution companies—Chattanooga Gas, Nicor Gas, and Virginia Natural Gas—were named among the 2020 Most Trusted Business Partners in the utility industry by Escalent. The recognition resulted from their efforts to support businesses during the COVID-19 pandemic, providing financial assistance and resources. Chattanooga Gas ranked first, while Nicor Gas and Virginia Natural Gas secured second among their respective regions. The survey included feedback from over 14,000 business utility customers, highlighting a significant increase in trust ratings.
Georgia Power announced the successful completion of major testing milestones for the Vogtle Unit 3 containment vessel on July 13, 2020. The tests confirmed that the vessel meets all safety and construction standards, serving as a crucial protective barrier in emergencies. Key achievements include the placement of significant components and the completion of vital safety tests. With over 7,000 workers on-site, the project is vital to Georgia Power's commitment to clean energy, aiming to support over 500,000 homes once operational. The expected in-service dates for Unit 3 and Unit 4 are November 2021 and November 2022, respectively.
Georgia Power has introduced measures to help customers manage increased energy use during the summer amid COVID-19. Key initiatives include a fuel rate reduction of $10.26 per month for typical residential customers, along with a one-time credit of $11.29 on June bills. The company's My Power Usage program allows users to track energy consumption. Customers can also access energy-saving tips, assistance programs for seniors and low-income households, and rebates through GeorgiaPower.com/Save.
Southern Company is set to release its second quarter earnings on July 30, 2020, at 7:30 a.m. EDT. A conference call with Chairman and CEO Thomas A. Fanning and CFO Andrew W. Evans will follow at 1 p.m. EDT on the same day to discuss the results. Investors and the public can access a live webcast of the call on Southern Company’s investor relations website, which will be available for replay for 12 months. Southern Company serves 9 million customers across various states and is committed to providing clean and reliable energy.
Georgia Power announced a special payment plan for customers struggling with past-due balances due to the COVID-19 pandemic. Customers who enroll by July 15 can defer payments over six months, with no late fees until April 2021. The utility also suspended disconnections until July 15. Additional support includes payment options for PrePay customers and a 17.2% reduction in fuel rates, amounting to $740 million in total savings. Customers may receive a one-time credit of $11.29 on their June bill, enhancing affordability during summer months.