NGG vs SO: Which Is the Better Dividend Stock?
As of Oct 18, 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. NGG offers the higher yield at 3.99%, SO has the higher dividend-safety score, and NGG looks like the better value (its fair-value estimate is 23% above its share price).
Key facts: NGG vs SO
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, National Grid plc (NGG) has the higher forward dividend yield at 3.99%, versus 3.33% for The Southern Company (SO).
- As of Oct 18, 2026, SmarterDividends grades NGG's dividend safety C (51/100) and SO's A (90/100).
- By SmarterDividends' count as of Oct 18, 2026, NGG has raised its dividend for 0 consecutive years and SO for 25.
- As of Oct 18, 2026, NGG pays out 72% of its earnings as dividends and SO pays out 72%.
- As of Oct 18, 2026, NGG's fair-value estimate is 23% above its share price and SO's fair-value estimate is 1% above its share price, so NGG looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "NGG vs SO: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/ngg-vs-so
| Metric | NGG | SO |
|---|---|---|
| Forward yield | 3.99% | 3.33% |
| Annual dividend | $3.24 | $3.04 |
| Payout ratio | 72% | 72% |
| Years of growth | 0 yr | 25 yr |
| 5-yr dividend growth | -0.1% | 3.0% |
| 5-yr total return | 23% | 49% |
| Dividend safety score | 51 (C) | 90 (A) |
| Fair value estimate | $100.02 | $91.87 |
| Upside to fair value | +23% | +1% |
| Frequency | semiannual | quarterly |
| Market cap | $81.7B | $104.9B |
| P/E ratio | 18.5 | 22.0 |
Higher yield
NGG
3.99%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
NGG
+23% upside
NGG vs SO — FAQ
Is NGG or SO a better dividend stock?
On the data, SO wins more head-to-head categories (5 vs 3). NGG offers the higher yield (3.99%), 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, NGG or SO?
NGG has the higher forward dividend yield at 3.99%, versus 3.33% for SO.
Is NGG or SO safer?
SO has the higher dividend-safety score (90/100 vs 51/100), reflecting stronger payout coverage and dividend-growth history.
Is NGG or SO better value right now?
As of Oct 18, 2026, NGG looks like the better value: its fair-value estimate is 23% above its share price (undervalued). For SO, its fair-value estimate is 1% above its share price.
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.