SHEL vs SLB: Which Is the Better Dividend Stock?
As of Nov 6, 2026, SHEL (Shell plc) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. SHEL offers the higher yield at 3.12%, SHEL has the higher dividend-safety score, and SLB looks like the better value (its fair-value estimate is 21% above its share price).
Key facts: SHEL vs SLB
Data as of · Source: SmarterDividends data
- As of Nov 6, 2026, Shell plc (SHEL) has the higher forward dividend yield at 3.12%, versus 2.38% for SLB N.V. (SLB).
- As of Nov 6, 2026, SmarterDividends grades SHEL's dividend safety B (75/100) and SLB's B (72/100).
- By SmarterDividends' count as of Nov 6, 2026, SHEL has raised its dividend for 5 consecutive years and SLB for 4.
- As of Nov 6, 2026, SHEL pays out 26% of its earnings as dividends and SLB pays out 57%.
- As of Nov 6, 2026, SHEL's fair-value estimate is 14% below its share price and SLB's fair-value estimate is 21% above its share price, so SLB looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "SHEL vs SLB: Dividend Yield, Safety & Value Compared," updated Nov 6, 2026, https://smarterdividends.com/compare/shel-vs-slb
| Metric | SHEL | SLB |
|---|---|---|
| Forward yield | 3.12% | 2.38% |
| Annual dividend | $3.12 | $1.18 |
| Payout ratio | 26% | 57% |
| Years of growth | 5 yr | 4 yr |
| 5-yr dividend growth | 17.2% | 17.9% |
| 5-yr total return | 159% | 87% |
| Dividend safety score | 75 (B) | 72 (B) |
| Fair value estimate | $85.98 | $60.28 |
| Upside to fair value | -14% | +21% |
| Frequency | quarterly | quarterly |
| Market cap | $283.7B | $73.3B |
| P/E ratio | 8.7 | 24.1 |
Higher yield
SHEL
3.12%
Safer dividend
SHEL
Grade B
Faster growth
SLB
17.9%
Better value
SLB
+21% upside
SHEL vs SLB — FAQ
Is SHEL or SLB a better dividend stock?
On the data, SHEL wins more head-to-head categories (6 vs 2). SHEL offers the higher yield (3.12%), while SHEL has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, SHEL or SLB?
SHEL has the higher forward dividend yield at 3.12%, versus 2.38% for SLB.
Is SHEL or SLB safer?
SHEL has the higher dividend-safety score (75/100 vs 72/100), reflecting stronger payout coverage and dividend-growth history.
Is SHEL or SLB better value right now?
As of Nov 6, 2026, SLB looks like the better value: its fair-value estimate is 21% above its share price (undervalued). For SHEL, its fair-value estimate is 14% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.