Aflac Raises Dividend for 28th Consecutive Year
Tue, Aug 10, 5:45 PM ET, by eDividendStocks.com
Aflac (AFL: 50.89 -1.15%) announced today that the company will increase their quarterly dividend by 7% to $.30 per share. Following the dividend increase, AFL shares will yield 2.4% based on today's closing price. Aflac is a member of the elite dividend aristocrat stocks that have increased their dividend for at least 25 consecutive years. This marks the 28th consecutive year that the insurer has increased their dividend. Commenting on today’s announcements, Aflac Chairman and Chief Executive Officer Daniel P. Amos stated: “I am very pleased with today’s action by our board of directors to approve an increase in the cash dividend effective with the fourth quarter payment. This action is consistent with the expectations we have expressed throughout the last several quarters. Extending our lengthy track record of dividend increases is important to Aflac and to those who own a part of this company.” “Going forward, we will continue to prudently balance our objectives of maintaining strong capital ratios while growing earnings at a pace we believe our owners will find attractive. For 2010, we remain focused on increasing operating earnings per diluted share by approximately 10% before the effect of foreign currency. Our goal for 2011 of increasing operating earnings by 8% to 12% before the impact of foreign currency remains unchanged.” The company also announced that they will resume their share repurchase program. Aflac suspended their stock repurchase program in the fourth quarter of 2008. The insurer still has authorization to repurchase 32.4 million available shares. Aflac stock has been on a nice run of late, gaining over 15% last month. In fact, Aflac was the top performing dividend aristocrat stock in July. The increased dividend will be payable on December 1, 2010, to shareholders of record as of November 17, 2010. Recommend This Article To Others:
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