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February 12, 2016 11:42 PM ET

Electric Utilities

Company Overview of Alabama Power Co.

Company Overview

Alabama Power Co., an integrated utility, generates, purchases, transmits, distributes, and sells electricity to residential, commercial, and industrial customers in Alabama. The company generates electricity through coal, nuclear, oil and gas, and hydro plants. It sells electricity at retail in approximately 400 cities and towns, including Anniston, Birmingham, Gadsden, Mobile, Montgomery, and Tuscaloosa, as well as in rural areas; and at wholesale to 14 municipally-owned electric distribution systems. The company also sells electric appliances. It serves 1.4 million customers. The company was founded in 1906 and is based in Birmingham, Alabama. Alabama Power Co. operates as a subsidiary of...

600 North 18th Street

Birmingham, AL 35291

United States

Founded in 1906

Phone:

205-257-1000

Key Executives for Alabama Power Co.

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 52
Chief Financial Officer, Executive Vice President and Treasurer
Age: 55
Vice President of Public Relations, President of the Alabama Power Foundation, Executive Director of Alabama Business Charitable Trust and Director of Alabama Power Foundation
Executive Vice President of the Customer Service Organization
Age: 59
Executive Vice President of External Affairs
Age: 55
Compensation as of Fiscal Year 2015.

Alabama Power Co. Key Developments

Alabama Power Company Declares Dividend on Preferred Stock for the Quarter Ending March 31, 2016, Payable April 1, 2016

The board of directors of Alabama Power Company has declared the regular quarterly dividends on the company's outstanding preferred stock and preference stock as follows: Preferred Stock of 4.20% - $1.05 per share, 4.52% - $1.13 per share, 4.60% - $1.15 per share, 4.64% - $1.16 per share, 4.72% - $1.18 per share, and 4.92% - $1.23 per share. The company also announced dividend on Class A Preferred Stock of 5.83% - $0.364375 per share and Preference Stock of 6.45% - $0.403125 per share and 6.50% - $0.406250 per share. These dividends are for the quarter ending March 31, 2016, payable April 1, 2016, to shareholders of record on March 17, 2016.

Alabama Power Co. Announces Board Changes

Alabama Power Co. announced that Bobbie Knight, vice president of the company's Birmingham Division, was named adviser to Alabama Power Chairman, President and CEO Mark Crosswhite. Knight is 37-year veteran of the company and will serve in the advisory role until she retires in April 2016. Knight previously served as vice president of public relations, and also has served in management roles in the company's Western Division, Human Resources, Corporate Services and Supply Chain organizations. Jonathan Porter, vice president of Human Resources and Ethics, will succeed Knight as vice president of the Birmingham Division. He will assume his new role immediately. Jeff Peoples, vice president of Operations Services for Southern Co., was elected company's new vice president of Human Resources and Ethics.

Alabama Power Co. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Alabama Power Co. announced earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported operating revenues of $1,695 million compared with $1,669 million for the same period a year ago. Earnings before income taxes was $491 million compared with $475 million for the same period a year ago. Net income available to common shareholders was $295 million compared with $282 million for the same period a year ago. For the nine months, the company reported operating revenues of $4,551 million compared with $4,614 million for the same period a year ago. Earnings before income taxes was $1,113 million compared with $1,101 million for the same period a year ago. Net income available to common shareholders was $665 million compared with $642 million for the same period a year ago.

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