15 Best Dividend Stocks to Buy for Long-Term Passive Income

10. The Southern Company (NYSE:SO)

Number of Hedge Fund Holders: 53

The Southern Company (NYSE:SO) is a Georgia-based gas and electric utility company that has a wide customer base, spanning over 9 million across the Southern US. Together with its subsidiaries, the company owns or runs 55 facilities spread across 15 different states. The stock has surged by over 11% since the start of 2025, and its 12-month return came in at over 23%.

In the fourth quarter of 2024, The Southern Company (NYSE:SO) reported revenue of $6.34 billion, which showed a 4.9% growth from the same period last year. The revenue beat analysts’ estimates by $440.8 million. The company’s earnings for the quarter came in at $534 million, or $0.49 per share.

On April 21, The Southern Company (NYSE:SO) declared a quarterly dividend of $0.74 per share, having raised it by 2.8% from its previous dividend. This marked the company’s 24th consecutive year of dividend growth, which makes SO one of the best dividend stocks for passive income. As of April 24, the stock has a dividend yield of 3.24%.

The number of hedge funds tracked by Insider Monkey owning stakes in The Southern Company (NYSE:SO) grew to 53 in Q4 2024, from 37 in the previous quarter. The consolidated value of these stakes is nearly $2 billion. Among these hedge funds, GQG Partners was the company’s leading stakeholder in Q4.