HSBC vs RY: Which Is the Better Dividend Stock?
As of September 2026, RY (Royal Bank of Canada) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. HSBC offers the higher yield at 3.50%, RY has the higher dividend-safety score, and HSBC trades at the larger discount to fair value (+27%).
| Metric | HSBC | RY |
|---|---|---|
| Forward yield | 3.50% | 2.41% |
| Annual dividend | $3.75 | $5.07 |
| Payout ratio | 54% | 41% |
| Years of growth | 0 yr | 10 yr |
| 5-yr dividend growth | -13.8% | 6.2% |
| 5-yr total return | 310% | 112% |
| Dividend safety score | 72 (B) | 75 (B) |
| Fair value estimate | $136.26 | $250.12 |
| Upside to fair value | +27% | +19% |
| Frequency | quarterly | quarterly |
| Market cap | $366.9B | $291.5B |
| P/E ratio | 15.3 | 18.4 |
Higher yield
HSBC
3.50%
Safer dividend
RY
Grade B
Faster growth
RY
6.2%
Better value
HSBC
+27% upside
HSBC vs RY — FAQ
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