MDU vs SO: Which Is the Better Dividend Stock?
As of September 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. SO offers the higher yield at 3.44%, SO has the higher dividend-safety score, and SO trades at the larger discount to fair value (+10%).
| Metric | MDU | SO |
|---|---|---|
| Forward yield | 2.88% | 3.44% |
| Annual dividend | $0.57 | $3.04 |
| Payout ratio | 60% | 72% |
| Years of growth | 1 yr | 25 yr |
| 5-yr dividend growth | 11.2% | 3.0% |
| 5-yr total return | 73% | 42% |
| Dividend safety score | 58 (C) | 90 (A) |
| Fair value estimate | $20.32 | $96.70 |
| Upside to fair value | +4% | +10% |
| Frequency | quarterly | quarterly |
| Market cap | $4.0B | $100.9B |
| P/E ratio | 20.9 | 21.3 |
Higher yield
SO
3.44%
Safer dividend
SO
Grade A
Faster growth
MDU
11.2%
Better value
SO
+10% upside
MDU vs SO — FAQ
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