SmarterDividends

SO vs WELPM: Which Is the Better Dividend Stock?

As of September 2026, SO (The Southern Company) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. WELPM offers the higher yield at 5.66%, SO has the higher dividend-safety score, and SO trades at the larger discount to fair value (+10%).

MetricSOWELPM
Forward yield3.46%5.66%
Annual dividend$3.04$6.00
Payout ratio72%
Years of growth25 yr0 yr
5-yr dividend growth3.0%0.0%
5-yr total return41%-26%
Dividend safety score90 (A)85 (A)
Fair value estimate$96.70$81.14
Upside to fair value+10%-23%
Frequencyquarterlyquarterly
Market cap$100.3B
P/E ratio21.2

Higher yield

WELPM

5.66%

Safer dividend

SO

Grade A

Faster growth

SO

3.0%

Better value

SO

+10% upside

SO vs WELPM — FAQ

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