Aflac increases dividend for 34th consecutive year

Dividend Aristocrat Aflac Incorporated (AFL) will raise its dividend by 4.9%.

The quarterly dividend will be hiked to $0.43 per share, with the increased dividend payable on December 1, 2016, to shareholders of record at the close of business on November 16, 2016.

"The board of directors' action to increase the dividend by 4.9% demonstrates our commitment to reward our shareholders. This marks the 34th consecutive year of increasing our cash dividend. Our objective is to grow the dividend at a rate generally in line with the increase in operating earnings per diluted share before the impact of foreign currency translation", according to chairman and chief executive officer Daniel P. Amos.

The provider of voluntary insurance at the worksite currently has an estimated dividend yield of 2.5% based on a $69 stock price.