This Dividend Stock Is a Safe Bet Regardless of Market Conditions
It's been a rough market of late. The S&P 500 (SNPINDEX: ^GSPC) is down 17% from its January high, and given still-rampant inflation, it could easily continue falling. Not even the average dividend stock is proving to be a safe haven, as the specter of rising interest rates works to drive dividend yields higher by pushing dividend stock prices lower. Never mind the sort of difficulties that higher costs can create in terms of those dividends' affordability.
There's a noteworthy exception to this headwind, however, that's paying a pretty good yield. Take a look at The Southern Company (NYSE: SO) if you're on the hunt for a safe dividend-paying name in the midst of this market-wide carnage. It's got staying power, and has proven it by resisting the broad bearish tide.
If you're not familiar with it, Southern Company is a utility stock. The organization provides electricity (and natural gas) to 9 million people, mostly in the southern portion of the United States. It's been around for a long, long time, adding companies to its portfolio along the way to evolve into an operation generating annual revenue on the order of $23 billion.
Source Fool.com
