Published April 17, 2017 3:24pm EDT | Updated April 17, 2017 5:05pm EDT

Southern Co. Raises Annual Dividend For 16th Straight Year

Utility Southern Co. said Monday it is raising its annual dividend for a 16th straight year, hiking it by 8 cents to $2.32 a share. The company will make its next quarterly dividend payment -- of 58 cents a share -- on June 6 to shareholders of record as of May 15. Shares were up 0.7% on Monday, and are up 1.2% in 2017, while the S&P 500 has gained 4.8%.