diff --git a/src/Dictionaries/HashedDictionary.cpp b/src/Dictionaries/HashedDictionary.cpp
index c0d6a4a2a47..56e72fb0328 100644
--- a/src/Dictionaries/HashedDictionary.cpp
+++ b/src/Dictionaries/HashedDictionary.cpp
@@ -957,6 +957,15 @@ void HashedDictionary<dictionary_key_type, sparse, sharded>::calculateBytesAlloc
 
     for (size_t attribute_index = 0; attribute_index < attributes_size; ++attribute_index)
     {
+        /// bucket_count should be a sum over all shards (CollectionsHolder),
+        /// but it should not be a sum over all attributes, since it is used to
+        /// calculate load_factor like this:
+        ///
+        ///    element_count / bucket_count
+        ///
+        /// While element_count is a sum over all shards, not over all attributes.
+        bucket_count = 0;
+
         getAttributeContainers(attribute_index, [&](const auto & containers)
         {
             for (const auto & container : containers)
@@ -973,12 +982,12 @@ void HashedDictionary<dictionary_key_type, sparse, sharded>::calculateBytesAlloc
                     /// and since this is sparsehash, empty cells should not be significant,
                     /// and since items cannot be removed from the dictionary, deleted is also not important.
                     bytes_allocated += container.size() * (sizeof(KeyType) + sizeof(AttributeValueType));
-                    bucket_count = container.bucket_count();
+                    bucket_count += container.bucket_count();
                 }
                 else
                 {
                     bytes_allocated += container.getBufferSizeInBytes();
-                    bucket_count = container.getBufferSizeInCells();
+                    bucket_count += container.getBufferSizeInCells();
                 }
             }
         });
@@ -1002,12 +1011,12 @@ void HashedDictionary<dictionary_key_type, sparse, sharded>::calculateBytesAlloc
             if constexpr (sparse)
             {
                 bytes_allocated += container.size() * (sizeof(KeyType));
-                bucket_count = container.bucket_count();
+                bucket_count += container.bucket_count();
             }
             else
             {
                 bytes_allocated += container.getBufferSizeInBytes();
-                bucket_count = container.getBufferSizeInCells();
+                bucket_count += container.getBufferSizeInCells();
             }
         }
     }
diff --git a/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.reference b/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.reference
new file mode 100644
index 00000000000..0832a85e22a
--- /dev/null
+++ b/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.reference
@@ -0,0 +1,2 @@
+0.4768
+0.4768
diff --git a/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.sql b/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.sql
new file mode 100644
index 00000000000..d6e99a91284
--- /dev/null
+++ b/tests/queries/0_stateless/02730_dictionary_hashed_load_factor.sql
@@ -0,0 +1,17 @@
+DROP DICTIONARY IF EXISTS dict_sharded;
+DROP DICTIONARY IF EXISTS dict_sharded_multi;
+DROP TABLE IF EXISTS dict_data;
+
+CREATE TABLE dict_data (key UInt64, v0 UInt16, v1 UInt16, v2 UInt16, v3 UInt16, v4 UInt16) engine=Memory() AS SELECT number, number%65535, number%65535, number%6553, number%655355, number%65535 FROM numbers(1e6);
+
+CREATE DICTIONARY dict_sharded (key UInt64, v0 UInt16) PRIMARY KEY key SOURCE(CLICKHOUSE(TABLE 'dict_data')) LIFETIME(MIN 0 MAX 0) LAYOUT(HASHED(SHARDS 32));
+SYSTEM RELOAD DICTIONARY dict_sharded;
+SELECT round(load_factor, 4) FROM system.dictionaries WHERE database = currentDatabase() AND name = 'dict_sharded';
+DROP DICTIONARY dict_sharded;
+
+CREATE DICTIONARY dict_sharded_multi (key UInt64, v0 UInt16, v1 UInt16, v2 UInt16, v3 UInt16, v4 UInt16) PRIMARY KEY key SOURCE(CLICKHOUSE(TABLE 'dict_data')) LIFETIME(MIN 0 MAX 0) LAYOUT(HASHED(SHARDS 32));
+SYSTEM RELOAD DICTIONARY dict_sharded_multi;
+SELECT round(load_factor, 4) FROM system.dictionaries WHERE database = currentDatabase() AND name = 'dict_sharded_multi';
+DROP DICTIONARY dict_sharded_multi;
+
+DROP TABLE dict_data;