CEG vs SO: Which Is the Better Dividend Stock?
As of September 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. SO offers the higher yield at 3.49%, SO has the higher dividend-safety score, and CEG trades at the larger discount to fair value (+27%).
| Metric | CEG | SO |
|---|---|---|
| Forward yield | 0.60% | 3.49% |
| Annual dividend | $1.71 | $3.04 |
| Payout ratio | 16% | 72% |
| Years of growth | 3 yr | 25 yr |
| 5-yr dividend growth | — | 3.0% |
| 5-yr total return | 493% | 41% |
| Dividend safety score | 77 (B) | 90 (A) |
| Fair value estimate | $360.68 | $96.70 |
| Upside to fair value | +27% | +11% |
| Frequency | quarterly | quarterly |
| Market cap | $100.9B | $100.3B |
| P/E ratio | 27.9 | 21.0 |
Higher yield
SO
3.49%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
CEG
+27% upside
CEG vs SO — FAQ
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