PG vs PM: Which Is the Better Dividend Stock?
As of Nov 5, 2026, PG (The Procter & Gamble Company) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. PM offers the higher yield at 3.03%, PG has the higher dividend-safety score, and PG looks like the better value (its fair-value estimate is 26% below its share price).
Key facts: PG vs PM
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Philip Morris International Inc. (PM) has the higher forward dividend yield at 3.03%, versus 2.60% for The Procter & Gamble Company (PG).
- As of Nov 5, 2026, SmarterDividends grades PG's dividend safety A (92/100) and PM's B (73/100).
- By SmarterDividends' count as of Nov 5, 2026, PG has raised its dividend for 42 consecutive years and PM for 13.
- As of Nov 5, 2026, PG pays out 65% of its earnings as dividends and PM pays out 88%.
- As of Nov 5, 2026, PG's fair-value estimate is 26% below its share price and PM's fair-value estimate is 26% below its share price, so PG looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "PG vs PM: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/pg-vs-pm
| Metric | PG | PM |
|---|---|---|
| Forward yield | 2.60% | 3.03% |
| Annual dividend | $4.35 | $6.40 |
| Payout ratio | 65% | 88% |
| Years of growth | 42 yr | 13 yr |
| 5-yr dividend growth | 6.0% | 3.5% |
| 5-yr total return | 12% | 143% |
| Dividend safety score | 92 (A) | 73 (B) |
| Fair value estimate | $124.28 | $156.61 |
| Upside to fair value | -26% | -26% |
| Frequency | quarterly | quarterly |
| Market cap | $387.8B | $329.3B |
| P/E ratio | 25.2 | 30.8 |
Higher yield
PM
3.03%
Safer dividend
PG
Grade A
Faster growth
PG
6.0%
Better value
PG
-26% upside
PG vs PM — FAQ
Is PG or PM a better dividend stock?
On the data, PG wins more head-to-head categories (5 vs 3). PM offers the higher yield (3.03%), while PG has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, PG or PM?
PM has the higher forward dividend yield at 3.03%, versus 2.60% for PG.
Is PG or PM safer?
PG has the higher dividend-safety score (92/100 vs 73/100), reflecting stronger payout coverage and dividend-growth history.
Is PG or PM better value right now?
As of Nov 5, 2026, PG looks like the better value: its fair-value estimate is 26% below its share price (overvalued). For PM, its fair-value estimate is 26% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.