Those invested in Telstra Corporation Ltd (ASX: TLS) shares likely jumped for joy earlier this month when the company declared its biggest final dividend since 2018.
The S&P/ASX 200 Index (ASX: XJO) telecommunications giant revealed a 7.5-cent final dividend alongside a 1-cent special dividend, to be paid to shareholders next month.
That follows on from the 6-cent interim dividend, which was accompanied by a 2-cent special dividend, offered to investors in April.
Combining those payouts, the telco has offered 16.5 cents in dividends over the last 12 months. And even more impressively, each of the payouts was fully franked, meaning they could bring additional benefits to investors come tax time.
The Telstra share price is currently trading at $3.98. That leaves the market favourite boasting a dividend yield of 4.14% – not too shabby.
But how does that compare to those offered by its fellow S&P/ASX 200 Communications Index (ASX: XTJ) shares? Let's take a look.
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Does the 4% dividend yield offered by Telstra shares stack up?
The 4.1% dividend yield currently offered by Telstra shares compares well to those of its ASX 200 communication peers.
Indeed, shares in fellow ASX 200 telco TPG Telecom Ltd (ASX: TPG) are trading with a 3.3% dividend yield, having promised investors 17.5 cents in dividends over the last 12 months.
New Zealand counterpart Chorus Ltd (ASX: CNU), meanwhile, doesn't pay dividends.
That leaves Telstra with the highest dividend yield on offer among ASX 200 telcos.
Though, that of S&P/ASX 200 Communications Index (ASX: XTJ) constituent Nine Entertainment Co Holdings Ltd (ASX: NEC) blows Telstra's yield out of the water. Its stock is currently trading with a 6.5% yield.
Meanwhile, shares in both Carsales.Com Ltd (ASX: CAR) and Seek Limited (ASX: SEK) offer dividend yields of more than 2%.
So, that means the yield on offer from Telstra shares stacks up relatively well against most of its ASX 200 peers.
The telco giant has also outperformed the ASX 200 as of late.
The Telstra share price has fallen 6% since the start of 2022. Though, it has gained 4% since this time last year.
Meanwhile, the ASX 200 has dumped 8% year to date and 7% over the last 12 months.
