NWE vs SO: Which Is the Better Dividend Stock?
As of Oct 18, 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 7 of 8 head-to-head metrics. NWE offers the higher yield at 3.59%, SO has the higher dividend-safety score, and SO looks like the better value (its fair-value estimate is 1% above its share price).
Key facts: NWE vs SO
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, NorthWestern Energy Group, Inc. (NWE) has the higher forward dividend yield at 3.59%, versus 3.33% for The Southern Company (SO).
- As of Oct 18, 2026, SmarterDividends grades NWE's dividend safety A (84/100) and SO's A (90/100).
- By SmarterDividends' count as of Oct 18, 2026, NWE has raised its dividend for 17 consecutive years and SO for 25.
- As of Oct 18, 2026, NWE pays out 96% of its earnings as dividends and SO pays out 72%.
- As of Oct 18, 2026, NWE's fair-value estimate is 21% below its share price and SO's fair-value estimate is 1% above its share price, so SO looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "NWE vs SO: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/nwe-vs-so
| Metric | NWE | SO |
|---|---|---|
| Forward yield | 3.59% | 3.33% |
| Annual dividend | $2.68 | $3.04 |
| Payout ratio | 96% | 72% |
| Years of growth | 17 yr | 25 yr |
| 5-yr dividend growth | 1.9% | 3.0% |
| 5-yr total return | 35% | 49% |
| Dividend safety score | 84 (A) | 90 (A) |
| Fair value estimate | $59.12 | $91.87 |
| Upside to fair value | -21% | +1% |
| Frequency | quarterly | quarterly |
| Market cap | $4.6B | $104.9B |
| P/E ratio | 27.0 | 22.0 |
Higher yield
NWE
3.59%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
SO
+1% upside
NWE vs SO — FAQ
Is NWE or SO a better dividend stock?
On the data, SO wins more head-to-head categories (7 vs 1). NWE offers the higher yield (3.59%), 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, NWE or SO?
NWE has the higher forward dividend yield at 3.59%, versus 3.33% for SO.
Is NWE or SO safer?
SO has the higher dividend-safety score (90/100 vs 84/100), reflecting stronger payout coverage and dividend-growth history.
Is NWE or SO better value right now?
As of Oct 18, 2026, SO looks like the better value: its fair-value estimate is 1% above its share price (fairly valued). For NWE, its fair-value estimate is 21% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.