MO vs PG: Which Is the Better Dividend Stock?
As of September 2026, MO and PG are closely matched. MO offers the higher yield at 6.45%, PG has the higher dividend-safety score, and MO trades at the larger discount to fair value (+47%).
| Metric | MO | PG |
|---|---|---|
| Forward yield | 6.45% | 3.05% |
| Annual dividend | $4.44 | $4.35 |
| Payout ratio | 89% | 64% |
| Years of growth | 17 yr | 42 yr |
| 5-yr dividend growth | 4.1% | 6.0% |
| 5-yr total return | 52% | 4% |
| Dividend safety score | 80 (A) | 90 (A) |
| Fair value estimate | $101.21 | $137.55 |
| Upside to fair value | +47% | -6% |
| Frequency | quarterly | quarterly |
| Market cap | $115.2B | $337.4B |
| P/E ratio | 14.5 | 21.9 |
Higher yield
MO
6.45%
Safer dividend
PG
Grade A
Faster growth
PG
6.0%
Better value
MO
+47% upside
MO vs PG — FAQ
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