The Insurance Australia Group Ltd (ASX: IAG) share price has edged higher during trade today to $6.90.
This means that if the insurance giant is able to maintain its current pay out, investors buying shares today can look forward to receiving a fully franked 3.8% dividend over the next 12 months.
When do you need to invest by to receive this?
Whilst details of its final dividend have yet to be released, traditionally Insurance Australia Group's shares go ex-dividend for it early in September.
This is then paid to shareholders approximately one month later during the first week of October.
After which, the next instalment is its interim dividend, which is usually paid to shareholders at the end of March, having gone ex-dividend at the end of February.
Whilst this dividend is competitive, it pales in comparison to rival Suncorp Group Ltd (ASX: SUN). Its shares currently provide a trailing fully franked 4.7% dividend.
