MGEE vs SO: Which Is the Better Dividend Stock?
As of September 2026, MGEE and SO are closely matched. SO offers the higher yield at 3.55%, MGEE has the higher dividend-safety score, and SO trades at the larger discount to fair value (+13%).
| Metric | MGEE | SO |
|---|---|---|
| Forward yield | 2.74% | 3.55% |
| Annual dividend | $2.03 | $3.04 |
| Payout ratio | 47% | 72% |
| Years of growth | 38 yr | 25 yr |
| 5-yr dividend growth | 5.1% | 3.0% |
| 5-yr total return | -2% | 37% |
| Dividend safety score | 93 (A) | 90 (A) |
| Fair value estimate | $61.82 | $96.70 |
| Upside to fair value | -17% | +13% |
| Frequency | quarterly | quarterly |
| Market cap | $2.8B | $98.4B |
| P/E ratio | 18.2 | 20.6 |
Higher yield
SO
3.55%
Safer dividend
MGEE
Grade A
Faster growth
MGEE
5.1%
Better value
SO
+13% upside
MGEE vs SO — FAQ
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