AFL vs MS: Which Is the Better Dividend Stock?
As of Oct 30, 2026, AFL (Aflac Incorporated) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. MS offers the higher yield at 2.42%, AFL has the higher dividend-safety score, and AFL looks like the better value (its fair-value estimate is 9% above its share price).
Key facts: AFL vs MS
Data as of · Source: SmarterDividends data
- As of Oct 30, 2026, Morgan Stanley (MS) has the higher forward dividend yield at 2.42%, versus 2.00% for Aflac Incorporated (AFL).
- As of Oct 30, 2026, SmarterDividends grades AFL's dividend safety A (99/100) and MS's A (82/100).
- By SmarterDividends' count as of Oct 30, 2026, AFL has raised its dividend for 41 consecutive years and MS for 12.
- As of Oct 30, 2026, AFL pays out 26% of its earnings as dividends and MS pays out 32%.
- As of Oct 30, 2026, AFL's fair-value estimate is 9% above its share price and MS's fair-value estimate is 15% below its share price, so AFL looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "AFL vs MS: Dividend Yield, Safety & Value Compared," updated Oct 30, 2026, https://smarterdividends.com/compare/afl-vs-ms
| Metric | AFL | MS |
|---|---|---|
| Forward yield | 2.00% | 2.42% |
| Annual dividend | $2.44 | $4.60 |
| Payout ratio | 26% | 32% |
| Years of growth | 41 yr | 12 yr |
| 5-yr dividend growth | 15.7% | 22.4% |
| 5-yr total return | 123% | 89% |
| Dividend safety score | 99 (A) | 82 (A) |
| Fair value estimate | $134.35 | $160.88 |
| Upside to fair value | +9% | -15% |
| Frequency | quarterly | quarterly |
| Market cap | $61.9B | $297.3B |
| P/E ratio | 13.3 | 15.1 |
Higher yield
MS
2.42%
Safer dividend
AFL
Grade A
Faster growth
MS
22.4%
Better value
AFL
+9% upside
AFL vs MS — FAQ
Is AFL or MS a better dividend stock?
On the data, AFL wins more head-to-head categories (5 vs 3). MS offers the higher yield (2.42%), while AFL has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, AFL or MS?
MS has the higher forward dividend yield at 2.42%, versus 2.00% for AFL.
Is AFL or MS safer?
AFL has the higher dividend-safety score (99/100 vs 82/100), reflecting stronger payout coverage and dividend-growth history.
Is AFL or MS better value right now?
As of Oct 30, 2026, AFL looks like the better value: its fair-value estimate is 9% above its share price (fairly valued). For MS, its fair-value estimate is 15% below its share price.
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.