Is the Fortescue (ASX:FMG) dividend really worth 28% in November?

is the fortescue asxfmg dividend really worth 28 in november

Sumary of Is the Fortescue (ASX:FMG) dividend really worth 28% in November?:

  • The Fortescue Metals Group Limited (ASX: FMG) share price has been one to watch in 2021 so far.
  • It first got chins a-wagging when Fortescue hit a new all-time high of $26.58 a share back in July.
  • This was of course fuelled by record-high iron ore prices, which climaxed at more than US$220 a tonne mid-year.
  • It fell from over $26 a share in July to a new 52-week low of $13.90 by late October It’s worth noting the Fortescue share price has recovered somewhat since then.
  • Perhaps the hullabaloo surrounding Fortescue Future Industries has helped in this matter.
  • But at this current share price, Fortescue shares now offer a seemingly impossible dividend yield of 20.02%.
  • Get ready for this — grossed-up with Fortescue’s full franking, that dividend yield is worth an insane 28.6%.
  • Are Fortescue shares really offering a yield of that stupendous magnitude right now?

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