D vs SO: Dividend Comparison

At $66.31 per share, $10,000 buys about 150.8 shares of Dominion Energy, Inc (D). Each share pays $2.67 per year in dividends, so the position starts out generating roughly $403 per year — about $34 a month.

At $94.53 per share, $10,000 buys about 105.8 shares of Southern Co (SO). Each share pays $2.92 per year in dividends, so the position starts out generating roughly $309 per year — about $26 a month.

D is the larger income stream from day one: $94 per year more on the same $10,000 invested.

Dominion Energy, Inc (D) has raised its dividend about 1.5% a year over the past five years. If that pace held, the $419 per year that $10,000 generates today at the current 4.19% yield would reach $484 per year by 2036 — a 4.8% yield on the original cost.

Southern Co (SO) has raised its dividend about 2.9% a year over the past five years. If that pace held, the $322 per year that $10,000 generates today at the current 3.22% yield would reach $429 per year by 2036 — a 4.3% yield on the original cost.

On those trailing rates, D pays more in 2036: $484 versus $429 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.

Southern Co (SO) yields less today (3.22% vs 4.19%) but has grown its dividend faster — 2.9% vs 1.5% a year over the past five years. If both trends continued, a $10,000 position in SO would start out-earning the same position in D around 2045 (roughly 19 years from now), paying about $556 per year at the crossover. Before that point, D pays more each year; after it, the gap compounds in SO's favor.

Dominion Energy, Inc (D) earns $3.06 per share against $2.67 paid out in dividends — 1.1x coverage (a 87% payout ratio).

Southern Co (SO) earns $4.02 per share against $2.92 paid out in dividends — 1.4x coverage (a 73% payout ratio).

Coverage is similar for both, so neither dividend looks meaningfully more stretched than the other on current earnings.

For income you need right now, Dominion Energy, Inc (D) leads: $100,000 invested today pays about $349 a month at the current 4.19% yield, versus $268 a month from Southern Co (SO) at 3.22%.

With a decade or more before the income is needed, SO's faster dividend growth (2.9% vs 1.5% a year) matters more than the starting yield — raises compound into the larger paycheck over time.

On consistency: SO has raised its dividend 25 consecutive years.

Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.