SO vs SR: Which Is the Better Dividend Stock?
As of Oct 18, 2026, SO and SR are closely matched. SR offers the higher yield at 4.02%, SO has the higher dividend-safety score, and SR looks like the better value (its fair-value estimate is 13% above its share price).
Key facts: SO vs SR
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Spire Inc. (SR) has the higher forward dividend yield at 4.02%, versus 3.33% for The Southern Company (SO).
- As of Oct 18, 2026, SmarterDividends grades SO's dividend safety A (90/100) and SR's A (88/100).
- By SmarterDividends' count as of Oct 18, 2026, SO has raised its dividend for 25 consecutive years and SR for 22.
- As of Oct 18, 2026, SO pays out 72% of its earnings as dividends and SR pays out 72%.
- As of Oct 18, 2026, SO's fair-value estimate is 1% above its share price and SR's fair-value estimate is 13% above its share price, so SR looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "SO vs SR: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/so-vs-sr
| Metric | SO | SR |
|---|---|---|
| Forward yield | 3.33% | 4.02% |
| Annual dividend | $3.04 | $3.30 |
| Payout ratio | 72% | 72% |
| Years of growth | 25 yr | 22 yr |
| 5-yr dividend growth | 3.0% | 4.8% |
| 5-yr total return | 49% | 37% |
| Dividend safety score | 90 (A) | 88 (A) |
| Fair value estimate | $91.87 | $92.62 |
| Upside to fair value | +1% | +13% |
| Frequency | quarterly | quarterly |
| Market cap | $104.9B | $4.8B |
| P/E ratio | 22.0 | 23.8 |
Higher yield
SR
4.02%
Safer dividend
SO
Grade A
Faster growth
SR
4.8%
Better value
SR
+13% upside
SO vs SR — FAQ
Is SO or SR a better dividend stock?
SO and SR are closely matched. SR has the higher yield; SO scores better on safety.
Which has a higher dividend yield, SO or SR?
SR has the higher forward dividend yield at 4.02%, versus 3.33% for SO.
Is SO or SR safer?
SO has the higher dividend-safety score (90/100 vs 88/100), reflecting stronger payout coverage and dividend-growth history.
Is SO or SR better value right now?
As of Oct 18, 2026, SR looks like the better value: its fair-value estimate is 13% above its share price (fairly valued). For SO, its fair-value estimate is 1% above its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.