Aflac raises dividend for 35th straight year

Dividend Aristocrat Aflac (AFL) will raise its dividend by almost five percent in the fourth quarter of 2017.

The US based provider of voluntary insurance at the worksite will increase its quarterly dividend to $0.45 per share.

The fourth quarter dividend of $0.45 per share is payable on December 1, 2017, to shareholders of record at the close of business on November 15, 2017.

Commenting on the company's results, Chairman and Chief Executive Officer Daniel P. Amos stated: "The board of directors' action to increase the quarterly dividend by 4.7% demonstrates our commitment to rewarding our shareholders. This marks the 35(th )consecutive year of increasing our cash dividend. Our dividend policy is guided by growth in operating earnings per share along with free cash flow generation and capital quality."

Last year Aflac raised its dividend for the 44th consecutive year. The stock has gained 21.3% year-to-date based on a stock price of $84.41. As of November 3, 2017 the estimated dividend yield is 2.1%.

Out of the 15 analysts following Aflac, currently 3 recommend 'buy', with 10 analysts rating the stock as a 'hold' and 2 'sell' recommendations. The average analyst target price of $82.85 is almost 2 percent below the current stock price of $84.41.

Aflac Incorporated is a business holding company engaged in supplemental health and life insurance. Aflac is a provider of voluntary insurance at the worksite in the United States and medical and cancer insurance in Japan. The Company offers cancer plans, critical illness plans, and critical care and recovery plans.

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