HSBC vs SAN: Which Is the Better Dividend Stock?
As of Nov 5, 2026, SAN (Banco Santander, S.A.) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. SAN offers the higher yield at 2.38%, HSBC has the higher dividend-safety score, and HSBC looks like the better value (its fair-value estimate is 65% above its share price).
Key facts: HSBC vs SAN
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Banco Santander, S.A. (SAN) has the higher forward dividend yield at 2.38%, versus 2.24% for HSBC Holdings plc (HSBC).
- As of Nov 5, 2026, SmarterDividends grades HSBC's dividend safety B (68/100) and SAN's C (63/100).
- By SmarterDividends' count as of Nov 5, 2026, HSBC has raised its dividend for 0 consecutive years and SAN for 4.
- As of Nov 5, 2026, HSBC pays out 54% of its earnings as dividends and SAN pays out 26%.
- As of Nov 5, 2026, HSBC's fair-value estimate is 65% above its share price and SAN's fair-value estimate is 36% above its share price, so HSBC looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "HSBC vs SAN: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/hsbc-vs-san
| Metric | HSBC | SAN |
|---|---|---|
| Forward yield | 2.24% | 2.38% |
| Annual dividend | $2.00 | $0.29 |
| Payout ratio | 54% | 26% |
| Years of growth | 0 yr | 4 yr |
| 5-yr dividend growth | -13.8% | — |
| 5-yr total return | 209% | 260% |
| Dividend safety score | 68 (B) | 63 (C) |
| Fair value estimate | $145.65 | $16.38 |
| Upside to fair value | +65% | +36% |
| Frequency | quarterly | semiannual |
| Market cap | $301.5B | $173.7B |
| P/E ratio | 11.5 | 11.4 |
Higher yield
SAN
2.38%
Safer dividend
HSBC
Grade B
Faster growth
HSBC
-13.8%
Better value
HSBC
+65% upside
HSBC vs SAN — FAQ
Is HSBC or SAN a better dividend stock?
On the data, SAN wins more head-to-head categories (4 vs 3). SAN offers the higher yield (2.38%), while HSBC has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, HSBC or SAN?
SAN has the higher forward dividend yield at 2.38%, versus 2.24% for HSBC.
Is HSBC or SAN safer?
HSBC has the higher dividend-safety score (68/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is HSBC or SAN better value right now?
As of Nov 5, 2026, HSBC looks like the better value: its fair-value estimate is 65% above its share price (undervalued). For SAN, its fair-value estimate is 36% above its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.