The Southern Company (NYSE: SO) has a generous 4.3% yield today. That compares favorably to both the S&P 500 index, where an ETF would get you a scant 1.55%, and the average utility's 3%, using the Vanguard Utilities Index ETF as a proxy. But yield alone doesn't make a stock a good dividend investment. Here's a closer look at why Southern is a company you might want to own.

The first thing of note about Southern's dividend is how consistent it is. Notice in the chart below that it has been heading steadily higher since the early 2000s. The annual increase streak currently sits at 22 years and counting. However, look at the flat periods on the graph around the turn of the century and between the late 1980s and early 1990s.

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Source Fool.com