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IAG trades ex-dividend; yields 6.5% fully franked

Leading insurance company Insurance Australia Group (ASX: IAG) trades ex-dividend today. On August 22nd, the company reported a 69% increase in insurance profit, and raised its full year dividend by 112% to 36 cents.

The fully franked final dividend of 25 cents will be paid on 9 October 2013 to IAG shareholders on the register at the close of business on 11 September 2013.

IAG shares have fallen 35 cents today to $5.50 (25 cents of that fall being the ex-dividend), and trade on an attractive trailing dividend yield of 6.5%. By comparison, QBE Insurance (ASX: QBE) trades on a forecast dividend yield of around 3%.

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