PNW vs SO: Which Is the Better Dividend Stock?
As of Nov 5, 2026, PNW (Pinnacle West Capital Corporation) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. PNW offers the higher yield at 3.50%, SO has the higher dividend-safety score, and PNW looks like the better value (its fair-value estimate is 15% above its share price).
Key facts: PNW vs SO
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Pinnacle West Capital Corporation (PNW) has the higher forward dividend yield at 3.50%, versus 3.26% for The Southern Company (SO).
- As of Nov 5, 2026, SmarterDividends grades PNW's dividend safety A (88/100) and SO's A (90/100).
- By SmarterDividends' count as of Nov 5, 2026, PNW has raised its dividend for 14 consecutive years and SO for 25.
- As of Nov 5, 2026, PNW pays out 68% of its earnings as dividends and SO pays out 72%.
- As of Nov 5, 2026, PNW's fair-value estimate is 15% above its share price and SO's fair-value estimate is 3% below its share price, so PNW looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "PNW vs SO: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/pnw-vs-so
| Metric | PNW | SO |
|---|---|---|
| Forward yield | 3.50% | 3.26% |
| Annual dividend | $3.70 | $3.04 |
| Payout ratio | 68% | 72% |
| Years of growth | 14 yr | 25 yr |
| 5-yr dividend growth | 2.5% | 3.0% |
| 5-yr total return | 63% | 53% |
| Dividend safety score | 88 (A) | 90 (A) |
| Fair value estimate | $119.78 | $91.57 |
| Upside to fair value | +15% | -3% |
| Frequency | quarterly | quarterly |
| Market cap | $12.6B | $108.5B |
| P/E ratio | 19.6 | 22.7 |
Higher yield
PNW
3.50%
Safer dividend
SO
Grade A
Faster growth
SO
3.0%
Better value
PNW
+15% upside
PNW vs SO — FAQ
Is PNW or SO a better dividend stock?
On the data, PNW wins more head-to-head categories (5 vs 3). PNW offers the higher yield (3.50%), 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, PNW or SO?
PNW has the higher forward dividend yield at 3.50%, versus 3.26% for SO.
Is PNW or SO safer?
SO has the higher dividend-safety score (90/100 vs 88/100), reflecting stronger payout coverage and dividend-growth history.
Is PNW or SO better value right now?
As of Nov 5, 2026, PNW looks like the better value: its fair-value estimate is 15% above its share price (undervalued). For SO, its fair-value estimate is 3% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.