Tuesday, November 14, 2023

Dividend Increase - Aflac Incorporated (AFL)


Wednesday, November 1st the Board of Aflac Incorporated (AFL) announced a quarterly dividend increase of from $0.42 to $0.50 per share that’s payable March 1, 2024 to holders of record February 21, 2024. This represents a 19.05% increase over the last quarterly dividend.

With current price $81.13 (today's open), this raise brings their dividend yield to 2.47%.

Aflac is a Dividend Champions with a 42 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 21.2, 14.0, 13.0 and 9.1 (Dividend Champions.xls)

Since I own 75 shares of AFL, this will increase my portfolio's projected annual net dividend income by $17.88.

I was expecting an increase of around 8%, so this was a very pleasant surprise, which I am happy to accept.

This is the fourth dividend increase I received from Aflac since initiating a position August 2020. (More here) During this period, the quarterly dividend has increased by a whopping 78.6% from $0.28 to $0.50.

This increase raises my YOC to 5.28%.

Summary of 2023 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long AFL

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