HSBC vs SLF: Which Is the Better Dividend Stock?
As of Oct 18, 2026, HSBC (HSBC Holdings plc) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. HSBC offers the higher yield at 3.97%, HSBC has the higher dividend-safety score, and HSBC looks like the better value (its fair-value estimate is 44% above its share price).
Key facts: HSBC vs SLF
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, HSBC Holdings plc (HSBC) has the higher forward dividend yield at 3.97%, versus 3.41% for Sun Life Financial Inc. (SLF).
- As of Oct 18, 2026, SmarterDividends grades HSBC's dividend safety B (72/100) and SLF's C (64/100).
- By SmarterDividends' count as of Oct 18, 2026, HSBC has raised its dividend for 0 consecutive years and SLF for 10.
- As of Oct 18, 2026, HSBC pays out 54% of its earnings as dividends and SLF pays out 62%.
- As of Oct 18, 2026, HSBC's fair-value estimate is 44% above its share price and SLF's fair-value estimate is 17% below its share price, so HSBC looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "HSBC vs SLF: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/hsbc-vs-slf
| Metric | HSBC | SLF |
|---|---|---|
| Forward yield | 3.97% | 3.41% |
| Annual dividend | $3.75 | $2.71 |
| Payout ratio | 54% | 62% |
| Years of growth | 0 yr | 10 yr |
| 5-yr dividend growth | -13.8% | 8.3% |
| 5-yr total return | 242% | 49% |
| Dividend safety score | 72 (B) | 64 (C) |
| Fair value estimate | $135.99 | $66.23 |
| Upside to fair value | +44% | -17% |
| Frequency | quarterly | quarterly |
| Market cap | $323.4B | $44.1B |
| P/E ratio | 13.5 | 18.5 |
Higher yield
HSBC
3.97%
Safer dividend
HSBC
Grade B
Faster growth
SLF
8.3%
Better value
HSBC
+44% upside
HSBC vs SLF — FAQ
Is HSBC or SLF a better dividend stock?
On the data, HSBC wins more head-to-head categories (6 vs 2). HSBC offers the higher yield (3.97%), 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 SLF?
HSBC has the higher forward dividend yield at 3.97%, versus 3.41% for SLF.
Is HSBC or SLF safer?
HSBC has the higher dividend-safety score (72/100 vs 64/100), reflecting stronger payout coverage and dividend-growth history.
Is HSBC or SLF better value right now?
As of Oct 18, 2026, HSBC looks like the better value: its fair-value estimate is 44% above its share price (undervalued). For SLF, its fair-value estimate is 17% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.