OGS vs SO: Which Is the Better Dividend Stock?
As of Oct 18, 2026, OGS and SO are closely matched. OGS offers the higher yield at 3.60%, SO has the higher dividend-safety score, and OGS looks like the better value (its fair-value estimate is 42% above its share price).
Key facts: OGS vs SO
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, ONE Gas, Inc. (OGS) has the higher forward dividend yield at 3.60%, versus 3.33% for The Southern Company (SO).
- As of Oct 18, 2026, SmarterDividends grades OGS's dividend safety A (85/100) and SO's A (90/100).
- By SmarterDividends' count as of Oct 18, 2026, OGS has raised its dividend for 11 consecutive years and SO for 25.
- As of Oct 18, 2026, OGS pays out 58% of its earnings as dividends and SO pays out 72%.
- As of Oct 18, 2026, OGS's fair-value estimate is 42% above its share price and SO's fair-value estimate is 1% above its share price, so OGS looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "OGS vs SO: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/ogs-vs-so
| Metric | OGS | SO |
|---|---|---|
| Forward yield | 3.60% | 3.33% |
| Annual dividend | $2.72 | $3.04 |
| Payout ratio | 58% | 72% |
| Years of growth | 11 yr | 25 yr |
| 5-yr dividend growth | 4.4% | 3.0% |
| 5-yr total return | 17% | 49% |
| Dividend safety score | 85 (A) | 90 (A) |
| Fair value estimate | $107.06 | $91.87 |
| Upside to fair value | +42% | +1% |
| Frequency | quarterly | quarterly |
| Market cap | $4.8B | $104.9B |
| P/E ratio | 16.3 | 22.0 |
Higher yield
OGS
3.60%
Safer dividend
SO
Grade A
Faster growth
OGS
4.4%
Better value
OGS
+42% upside
OGS vs SO — FAQ
Is OGS or SO a better dividend stock?
OGS and SO are closely matched. OGS has the higher yield; SO scores better on safety.
Which has a higher dividend yield, OGS or SO?
OGS has the higher forward dividend yield at 3.60%, versus 3.33% for SO.
Is OGS or SO safer?
SO has the higher dividend-safety score (90/100 vs 85/100), reflecting stronger payout coverage and dividend-growth history.
Is OGS or SO better value right now?
As of Oct 18, 2026, OGS looks like the better value: its fair-value estimate is 42% above its share price (undervalued). For SO, its fair-value estimate is 1% above its share price.
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