AFLAC announces second dividend increase in 2020

Dividend Aristocrat Aflac (AFL) will raise its dividend by another 17.9 percent. This follows a dividend increase of almost 4 percent announced earlier in 2020, marking the insurer's 38th straight year of annual dividend increases.

The US based provider of voluntary insurance at the worksite declared a first quarter dividend of $0.28 per share, payable on March 2, 2020 to shareholders of record at the close of business on February 19, 2020. Now the company also announced the Q1 2021 dividend, earlier than it would normally do.

Aflac Incorporated Chairman and Chief Executive Officer Daniel P. Amos said: "I am pleased with the Board's action to increase the first quarter 2021 dividend. We treasure our record of 38 consecutive years of dividend increases, and we are looking to reward our shareholders by extending that track record in 2021. We remain committed to maintaining strong capital ratios on behalf of our policyholders and balance this financial strength with a focus on increasing the dividend, repurchasing shares and reinvesting in our business. Our dividend track record is supported by the strength of our capital and cash flows." 

Aflac yields about 3 percent at a current stock price of $44. The new dividend is payable on March 1, 2021 to shareholders of record at the close of business on February 17, 2021. Another Dividend Aristocrat announcing a dividend hike last week is Brown-Forman, the company behind the Jack Daniel's brand.

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.