PNW vs SO: Which Is the Better Dividend Stock?
As of July 2026, PNW and SO are closely matched. PNW offers the higher yield at 3.38%, SO has the higher dividend-safety score, and PNW trades at the larger discount to fair value (+21%).
| Metric | PNW | SO |
|---|---|---|
| Forward yield | 3.38% | 3.19% |
| Annual dividend | $3.64 | $3.04 |
| Payout ratio | 67% | 76% |
| Years of growth | 14 yr | 25 yr |
| 5-yr dividend growth | 2.5% | 3.0% |
| 5-yr total return | 40% | 45% |
| Dividend safety score | 88 (A) | 90 (A) |
| Fair value estimate | $130.55 | $93.61 |
| Upside to fair value | +21% | -2% |
| Frequency | quarterly | quarterly |
| Market cap | $12.9B | $106.5B |
| P/E ratio | 19.8 | 24.4 |
Higher yield
PNW
3.38%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
PNW
+21% upside
PNW vs SO — FAQ
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