Ameren, Pinnacle West Capital and Southern are Good Dividend Plays

Here are three public utilities that pay healthy dividends and would be candidates for a dividend reinvestment portfolio. All data are as of January 31, 2005.

Ameren (AEE) provides electricity and natural gas to parts of Missouri and Illinois It pays a $2.54 (5.10% yield) dividend on earnings of $2.635.

Pinnacle West Capital Corporation (PNW) owns Arizona Public Service Company (PNW), Arizona's largest utility. PNW pays a $1.90 dividend on earnings of $2.58. The dividend yield is 4.58%. The company expects to earn $3 in 2005.

Southern (SO) provides electricity to parts of Alabama, Florida, Mississippi and Georgia. Its dividend is $ 1.43 (4.27%) on earnings of $1.959.