Southern Co. (SO) Declares $0.58 Quarterly Dividend; 4.5% Yield
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Southern Co. (SO) to Sell Elizabethtown Gas, Elkton Gas to South Jersey Industries in $1.7B Deal
October 16, 2017 7:31 AM EDTSouthern Company and Southern Company Gas today announced that Pivotal Utility Holdings, Inc., a subsidiary of Southern Company Gas, has entered into agreements to sell the assets of its utility operating divisions Elizabethtown Gas and Elkton Gas to South Jersey Industries in an all-cash transaction with an enterprise value of approximately $1.7 billion. Southern Company Gas is a subsidiary of Southern Company.
"This transaction, which we anticipate completing by third quarter 2018, will strengthen the balance sheets of Southern Company Gas and Southern Company by reducing existing financing requirements," said Thomas A. Fanning, chairman, president and CEO of Southern Company.... More
