PM vs SPB: Which Is the Better Dividend Stock?
As of Oct 18, 2026, PM (Philip Morris International Inc.) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. PM offers the higher yield at 3.12%, PM 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: PM vs SPB
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Philip Morris International Inc. (PM) has the higher forward dividend yield at 3.12%, versus 2.38% for Spectrum Brands Holdings, Inc. (SPB).
- As of Oct 18, 2026, SmarterDividends grades PM's dividend safety B (72/100) and SPB's B (72/100).
- By SmarterDividends' count as of Oct 18, 2026, PM has raised its dividend for 13 consecutive years and SPB for 2.
- As of Oct 18, 2026, PM pays out 84% of its earnings as dividends and SPB pays out 57%.
- As of Oct 18, 2026, PM's fair-value estimate is 21% 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, "PM vs SPB: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/pm-vs-spb
| Metric | PM | SPB |
|---|---|---|
| Forward yield | 3.12% | 2.38% |
| Annual dividend | $6.40 | $1.88 |
| Payout ratio | 84% | 57% |
| Years of growth | 13 yr | 2 yr |
| 5-yr dividend growth | 3.5% | 2.3% |
| 5-yr total return | 139% | -21% |
| Dividend safety score | 72 (B) | 72 (B) |
| Fair value estimate | $161.23 | $126.68 |
| Upside to fair value | -21% | +60% |
| Frequency | quarterly | quarterly |
| Market cap | $319.8B | $1.8B |
| P/E ratio | 29.5 | 23.8 |
Higher yield
PM
3.12%
Safer dividend
PM
Grade B
Faster growth
PM
3.5%
Better value
SPB
+60% upside
PM vs SPB — FAQ
Is PM or SPB a better dividend stock?
On the data, PM wins more head-to-head categories (5 vs 2). PM offers the higher yield (3.12%), while PM has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, PM or SPB?
PM has the higher forward dividend yield at 3.12%, versus 2.38% for SPB.
Is PM or SPB safer?
PM has the higher dividend-safety score (72/100 vs 72/100), reflecting stronger payout coverage and dividend-growth history.
Is PM 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 PM, its fair-value estimate is 21% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.