Southern Company (SO) will raise its quarterly dividend 3.3 percent to $0.62 per share in the second quarter of 2019. This follows a 3.4 percent dividend hike last year.

The next dividend is payable June 6, 2019, to shareholders of record as of May 20, 2019. A new annualized rate of $2.48 per share yields 4.8% at a stock price of $52.20.

"Today's action by our board of directors reinforces the strength and sustainability of Southern Company's business," said Southern Company chairman, president and CEO Thomas A. Fanning. "For decades, our dividends, dividend growth and overall shareholder value proposition have been supported by an outstanding portfolio of energy businesses."

The Southern Company is an energy holding company. The company serves electric and gas utility customers through its subsidiaries. Southern Co provides energy through electric utilities in four states, natural gas distribution utilities in seven states, a generation company serving wholesale customers across America and a national provider of customized energy solutions, as well as fiber optics and wireless communications.