Dallas, Texas 09/24/2013 (Financialstrend) – As of close of business on September 23, the share price of The Southern Company (NYSE:SO) had settled down at $42.17. This was a 0.93% increase on its previous day close price. The stock is trading 13% below its 52 weeks high valuation and is down 3.79% from its 52 week low valuation. It was trailing behind the utilities vertical by a small margin. The utilities vertical index had clocked a 1.19% increase on September 20 trading. Over 4.2 million shares were traded through the day yesterday in comparison to 4.52 M daily trading volume average. The company has recorded a dividend yield of 4.81% for the year and last paid out dividend of $0.5 on September 6. The company has a market capitalization of $36.5 billion with 873 outstanding shares.
On August 21, the company announced that it has signed off on an underwriting agreement to raise $500 million via sale of senior notes through a public offering which will be due for maturity on September 1’18. The company is offering 2.45% interest on these notes.
Over the past one month the company shares have broken a six month losing streak and posted a 0.47% in the 30 day period. In the last six months the share had lost close to 6% of its share value.
The Southern Company has been in operation since 1945. It operates as a holding company which exercises full control on its fully owned subsidiaries which are into power generation and distribution. The company is one of the North America’s largest nuclear power producers and have acquired capacity over the decades to build and operate nuclear power plants. It is counted as one of the top electricity providers in the four large southern states. It has also diversified into providing wireless communication services.