Dividend Aristocrat AFLAC raises dividend for 38th consecutive year

Dividend Aristocrat Aflac (AFL) will raise its dividend by almost 4 percent in 2020. This will mark the insurer's 38th straight year of annual dividend increases.

The US based provider of voluntary insurance at the worksite declared the 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.

Commenting on the company's results, Chairman and Chief Executive Officer Daniel P. Amos stated: "We are pleased with the company's overall performance for the year. Total pretax adjusted earnings increased 2.5%, which is particularly impressive considering our extensive investments to drive future earned premium growth, which will remain a critical strategic focus for 2020. I am pleased with the Board's decision to increase the dividend, coming off our 37th consecutive year of dividend increases and a recognition of the stability of our earnings and capital generation. It also demonstrates our commitment to rewarding our shareholders.

Aflac yields about 2.2 percent at a current stock price of $53.

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.