Warren Buffett-backed insurance conglomerate Insurance Australia Group Ltd (ASX: IAG) has now seen its shares climb 15% over the course of 2017.
This afternoon the shares change hands for a near record high of $6.89 and investors including Buffett's Berkshire Hathaway received a 13 cents per share dividend this March along the way.
For 2017 analysts are forecasting that the insurer could pay out 34.7 cents per share in total dividends which means IAG offers a 5% dividend yield before you add in the tax effective benefits of franking credits.
The shares are now up around 27% since June 2015 when it was announced the world's most successful investor in insurance businesses, Warren Buffett, had taken a $500 million stake in IAG.
In fact Buffett has helped build Berkshire Hathaway into a US$425 billion business partly through successfully investing over the long term in undervalued insurance businesses like IAG.
You won't catch me betting against IAG shares…
