PG vs SPB: Which Is the Better Dividend Stock?
As of Oct 18, 2026, PG (The Procter & Gamble Company) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. PG offers the higher yield at 2.73%, PG has the higher dividend-safety score, and SPB looks like the better value (its fair-value estimate is 60% above its share price).
Key facts: PG vs SPB
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, The Procter & Gamble Company (PG) has the higher forward dividend yield at 2.73%, versus 2.38% for Spectrum Brands Holdings, Inc. (SPB).
- As of Oct 18, 2026, SmarterDividends grades PG's dividend safety A (92/100) and SPB's B (72/100).
- By SmarterDividends' count as of Oct 18, 2026, PG has raised its dividend for 42 consecutive years and SPB for 2.
- As of Oct 18, 2026, PG pays out 64% of its earnings as dividends and SPB pays out 57%.
- As of Oct 18, 2026, PG's fair-value estimate is 25% below its share price and SPB's fair-value estimate is 60% above its share price, so SPB looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "PG vs SPB: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/pg-vs-spb
| Metric | PG | SPB |
|---|---|---|
| Forward yield | 2.73% | 2.38% |
| Annual dividend | $4.35 | $1.88 |
| Payout ratio | 64% | 57% |
| Years of growth | 42 yr | 2 yr |
| 5-yr dividend growth | 6.0% | 2.3% |
| 5-yr total return | 10% | -21% |
| Dividend safety score | 92 (A) | 72 (B) |
| Fair value estimate | $120.24 | $126.68 |
| Upside to fair value | -25% | +60% |
| Frequency | quarterly | quarterly |
| Market cap | $370.4B | $1.8B |
| P/E ratio | 24.1 | 23.8 |
Higher yield
PG
2.73%
Safer dividend
PG
Grade A
Faster growth
PG
6.0%
Better value
SPB
+60% upside
PG vs SPB — FAQ
Is PG or SPB a better dividend stock?
On the data, PG wins more head-to-head categories (6 vs 2). PG offers the higher yield (2.73%), 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 SPB?
PG has the higher forward dividend yield at 2.73%, versus 2.38% for SPB.
Is PG or SPB safer?
PG has the higher dividend-safety score (92/100 vs 72/100), reflecting stronger payout coverage and dividend-growth history.
Is PG or SPB better value right now?
As of Oct 18, 2026, SPB looks like the better value: its fair-value estimate is 60% above its share price (undervalued). For PG, its fair-value estimate is 25% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.