BNL vs SPG: Which Is the Better Dividend Stock?
As of August 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. BNL offers the higher yield at 5.52%, BNL has the higher dividend-safety score, and BNL trades at the larger discount to fair value (-8%).
| Metric | BNL | SPG |
|---|---|---|
| Forward yield | 5.52% | 4.03% |
| Annual dividend | $1.17 | $8.90 |
| Payout ratio | 153% | 62% |
| Years of growth | 5 yr | 5 yr |
| 5-yr dividend growth | 8.5% | 10.5% |
| 5-yr total return | -15% | 68% |
| Dividend safety score | 68 (B) | 61 (C) |
| Fair value estimate | $19.39 | $151.83 |
| Upside to fair value | -8% | -30% |
| Frequency | quarterly | quarterly |
| Market cap | $4.6B | $83.1B |
| P/E ratio | 28.0 | 15.6 |
Higher yield
BNL
5.52%
Safer dividend
BNL
Grade B
Faster growth
SPG
10.5%
Better value
BNL
-8% upside
BNL vs SPG — FAQ
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