Southern Company's 5.30% Class A Preferred Stock Goes Ex-Dividend Soon

On 9/12/14, Southern Company's 5.30% Class A Preferred Stock (ALP.PRP) will trade ex-dividend, for its quarterly dividend of $0.3312, payable on 10/1/14. As a percentage of ALP.PRP's recent share price of $25.61, this dividend works out to approximately 1.29%, so look for shares of ALP.PRP to trade 1.29% lower — all else being equal — when ALP.PRP shares open for trading on 9/12/14. On an annualized basis, the current yield is approximately 5.16%, which compares to an average yield of 4.84% in the "Utilities" preferred stock category, according to Preferred Stock Channel.

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As of last close, ALP.PRP was trading at a 2.72% premium to its liquidation preference amount.The chart below shows the one year performance of ALP.PRP shares, versus SO:

Performance Comparison Chart

Below is a dividend history chart for ALP.PRP, showing historical dividends prior to the most recent $0.3312 on Southern Company's 5.30% Class A Preferred Stock:

ALP.PRP+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Southern Company ( SO) makes up 7.11% of the Utilities Select Sector SPDR Fund ETF (XLU) which is trading relatively unchanged on the day Wednesday.

In Wednesday trading, Southern Company's 5.30% Class A Preferred Stock ( ALP.PRP) is currently down about 0.3% on the day, while the common shares ( SO) are trading flat.

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