CBL vs SPG: Which Is the Better Dividend Stock?
As of September 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. CBL offers the higher yield at 4.60%, SPG has the higher dividend-safety score, and SPG trades at the larger discount to fair value (-37%).
| Metric | CBL | SPG |
|---|---|---|
| Forward yield | 4.60% | 4.33% |
| Annual dividend | $2.50 | $8.90 |
| Payout ratio | 28% | 62% |
| Years of growth | 3 yr | 5 yr |
| 5-yr dividend growth | — | 10.5% |
| 5-yr total return | 75% | 40% |
| Dividend safety score | 50 (C) | 63 (C) |
| Fair value estimate | $23.95 | $128.47 |
| Upside to fair value | -56% | -37% |
| Frequency | quarterly | quarterly |
| Market cap | $1.7B | $77.9B |
| P/E ratio | 7.8 | 14.5 |
Higher yield
CBL
4.60%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
SPG
-37% upside
CBL vs SPG — FAQ
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