When it comes to dividends, there are few areas of the market that offer as generous yields as the banking sector. Especially after recent post-Budget declines.
With the Australia and New Zealand Banking Group (ASX: ANZ) share price down 7.5% in the last three months, investors buying shares today would receive a fully franked 5.5% dividend over the next 12 months if the banking giant can maintain its current pay out.
When do you need to invest to receive it?
Unfortunately investors have just missed out on its most recent dividend. ANZ paid its interim 80 cents dividend to shareholders on Monday, with its shares having gone ex-dividend at the start of May.
This means the next dividend on the horizon is its final dividend. Traditionally its shares go ex-dividend for this during the first week of November.
Shareholders should then expect to receive it in their bank account approximately six weeks later in the middle of December.
