How much is the Fortescue (ASX:FMG) dividend worth today?

Fortescue Metals Group Limited (ASX: FMG) has been an S&P/ASX 200 Index (ASX: XJO) favourite for investors over the last year or so. At the time of writing, the Fortescue share price is trading at $20.06.

Buoyed by rising iron ore prices, Fortescue shares have risen by more than 90% over the past 12 months. And that’s after falling 22% since early January.

But it gets even better for long-term investors. Over the past 5 years, Fortescue shares are up a staggering 683%. Not bad for a blue-chip iron miner.

But even after the massive run up of the past year, Fortescue today offers a trailing dividend yield of 12.31%. And that comes fully franked to boot. If you include the value of these franking credits, this dividend grosses-up to…