- Business
- The Southern Company JR SUB NT 2015A (SOJA) represents The Southern Company's Series 2015A 6.25% Junior Subordinated Notes due October 15, 2075, issued in 2015 as a long-term hybrid debt security to support the company's capital structure and funding needs within the electric utility sector. These notes provide fixed-rate interest payments at 6.25% per annum, payable quarterly, with features including potential deferral of interest payments and subordination to senior debt, trading on the NYSE under the ticker SOJA. The instrument supports the financing of The Southern Company (founded in 1945 and headquartered in Atlanta, Georgia), a leading U.S. gas and electric utility holding company serving approximately 9 million customers across six states through vertically integrated subsidiaries including Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
The Southern Company, through its subsidiaries, generates, transmits, distributes, and sells electricity from a diverse portfolio encompassing nuclear, natural gas, coal, hydroelectric, solar, wind, and biomass facilities; distributes natural gas; operates wholesale power marketing and energy trading; provides distributed energy infrastructure solutions such as microgrids and energy storage; and offers fiber optics, telecommunications, and digital wireless communications services. Core operating companies deliver retail electricity in Alabama, Georgia, and Mississippi, natural gas distribution in Georgia, Illinois, Tennessee, and Virginia, and wholesale generation nationwide; Southern Nuclear manages nuclear plants including the recently operational Vogtle Units 3 and 4; Southern Power develops renewable projects; and transmission infrastructure spans 27,000 miles serving a 120,000-square-mile territory. These operations target residential, commercial, industrial, municipal, cooperative, and wholesale customers, emphasizing reliability, affordability, and a transition to cleaner energy sources with retail prices below national averages.
In recent developments, The Southern Company expanded its five-year capital plan to $76 billion in September 2025, prioritizing transmission upgrades, five new utility-scale solar projects adding 1,068 MW in Georgia, and grid resilience amid surging demand from data centers and advanced manufacturing, following a prior increase to $63 billion earlier in the year; secured over 7 GW in large-load contracts including 2 GW across Georgia and Alabama within two months as of October 2025, bolstering a 50 GW pipeline; advanced clean energy through Southern Company Gas subsidiaries completing renewable natural gas purchase agreements in June 2025 with Virginia Natural Gas and Chattanooga Gas; and continued Vogtle nuclear expansion with Unit 4 entering commercial operation in April 2024. The SOJA notes have maintained stable quarterly dividends of approximately $0.391 per share through 2020, reflecting consistent interest payments amid the company's strong financial position with $26.72 billion in 2024 revenue.