Southern Company said it is increasing its dividend by 7 cents per share on an annualized basis to a rate of $2.24 per share.

The increase marks the 15th straight year that Southern Company has raised the dividend on its common stock.

Southern Company also announced today a regular quarterly dividend – including an increase of 1.75 cents per share over the prior quarter – of 56 cents per share, payable June 6, 2016, to shareholders of record as of May 16, 2016. This marks 274 consecutive quarters – dating back to 1948 – that Southern Company will have paid a dividend to its shareholders that is equal to or greater than the previous quarter.

"Southern Company's customer-focused business model has supported the delivery of regular, predictable and sustainable dividends for more than half a century," said Southern Company Chairman, President and CEO Thomas A. Fanning. "This long-standing commitment to best meeting the energy needs of the customers we serve continues to drive both customer and shareholder value."