PM vs UL: Which Is the Better Dividend Stock?
As of July 2026, PM (Philip Morris International Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. UL offers the higher yield at 3.65%, PM has the higher dividend-safety score, and UL trades at the larger discount to fair value (+20%).
| Metric | PM | UL |
|---|---|---|
| Forward yield | 3.05% | 3.65% |
| Annual dividend | $5.88 | $2.28 |
| Payout ratio | 81% | 79% |
| Years of growth | 13 yr | 3 yr |
| 5-yr dividend growth | 3.5% | 1.9% |
| 5-yr total return | 87% | -0% |
| Dividend safety score | 70 (B) | 53 (C) |
| Fair value estimate | $172.87 | $74.84 |
| Upside to fair value | -10% | +20% |
| Frequency | quarterly | quarterly |
| Market cap | $300.4B | $133.5B |
| P/E ratio | 27.2 | 21.2 |
Higher yield
UL
3.65%
Safer dividend
PM
Grade B
Faster growth
PM
3.5%
Better value
UL
+20% upside
PM vs UL — FAQ
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