AQN vs SO: Which Is the Better Dividend Stock?
As of Oct 18, 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. AQN offers the higher yield at 4.95%, SO has the higher dividend-safety score, and AQN looks like the better value (its fair-value estimate is 17% above its share price).
Key facts: AQN vs SO
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Algonquin Power & Utilities Corp. (AQN) has the higher forward dividend yield at 4.95%, versus 3.33% for The Southern Company (SO).
- As of Oct 18, 2026, SmarterDividends grades AQN's dividend safety D (46/100) and SO's A (90/100).
- By SmarterDividends' count as of Oct 18, 2026, AQN has raised its dividend for 0 consecutive years and SO for 25.
- As of Oct 18, 2026, AQN pays out 108% of its earnings as dividends and SO pays out 72%.
- As of Oct 18, 2026, AQN's fair-value estimate is 17% above its share price and SO's fair-value estimate is 1% above its share price, so AQN looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "AQN vs SO: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/aqn-vs-so
| Metric | AQN | SO |
|---|---|---|
| Forward yield | 4.95% | 3.33% |
| Annual dividend | $0.26 | $3.04 |
| Payout ratio | 108% | 72% |
| Years of growth | 0 yr | 25 yr |
| 5-yr dividend growth | -15.6% | 3.0% |
| 5-yr total return | -61% | 49% |
| Dividend safety score | 46 (D) | 90 (A) |
| Fair value estimate | $6.12 | $91.87 |
| Upside to fair value | +17% | +1% |
| Frequency | quarterly | quarterly |
| Market cap | $4.0B | $104.9B |
| P/E ratio | 21.9 | 22.0 |
Higher yield
AQN
4.95%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
AQN
+17% upside
AQN vs SO — FAQ
Is AQN or SO a better dividend stock?
On the data, SO wins more head-to-head categories (6 vs 2). AQN offers the higher yield (4.95%), while SO has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, AQN or SO?
AQN has the higher forward dividend yield at 4.95%, versus 3.33% for SO.
Is AQN or SO safer?
SO has the higher dividend-safety score (90/100 vs 46/100), reflecting stronger payout coverage and dividend-growth history.
Is AQN or SO better value right now?
As of Oct 18, 2026, AQN looks like the better value: its fair-value estimate is 17% above its share price (undervalued). For SO, its fair-value estimate is 1% above its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.