Are Origin Energy shares really trading on a 3% dividend yield?

Origin Energy Ltd (ASX: ORG) is one of the more notable dividend shares in the S&P/ASX 200 Index (ASX: XJO).

Origin has been handing its investors payouts since it was listed on the ASX following its demerger from Boral Limited (ASX: BLD) in 2000.

But what kind of dividend yield is the share boasting right now?

The Origin Energy share price is in the green today. It's currently up 2.1%, trading at $6.82.

For context, the ASX 200 is also up on Thursday. It has gained 0.25% at the time of writing.

What is Origin Energy's current dividend yield?

Have you owned Origin Energy shares for the last year? You've likely received 20 cents of dividends in that time.

The energy producer and retailer handed out a 7.5 cent final dividend for the financial year 2021 and a 12.5 cent interim dividend in March.

The former represented a free cash flow payout of 31% – just within the company's target payout range of 30% to 50%. The latter, however, represented a free cash payout of 66%.

Both dividends were unfranked. Origin Energy hasn't paid a franked dividend since early 2020.

No doubt, all eyes will be on the company's next dividend when it drops its earnings for financial year 2022 on 18 August.

So, what is Origin Energy's current dividend yield?

Based on its previous closing price of $6.68, the company has a 12-month trailing dividend yield of 2.99%.

That's a relatively healthy dividend yield by many accounts. Though, it doesn't compare to some of the company's ASX 200 peers. As The Motley Fool Australia's Sebastian Bowen reports, numerous ASX 200 shares were trading with dividend yields of more than 9% last month. But they were all ASX miners and financials.

Origin Energy share price snapshot

The Origin Energy share price has been on a roll in 2022 so far.

Right now, it's 27% higher than it was at the start of the year. It has also gained 68% since this time last year.