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Data last updated: Oct 16, 2026
Snapshot (as of Oct 16, 2026): Aflac Incorporated (AFL) pays a $2.38 annual dividend ($0.61 quarterly), yielding 2.07% at $118.84/share. Next ex-dividend date 2026-08-19. 40+ consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.07%
Annual Dividend: $2.38 per share
Payout Ratio: 25.6%
Ex-Dividend Date: 2026-08-19
Dividend Frequency: quarterly
Sector: Financial Services
Years of Dividend History: 43
Aflac Incorporated dividend has been paid every quarter for decades, backed by a business that sells supplemental health and life insurance across the United States and Japan. AFL currently yields 2.13%, with trailing annual payments of $2.38 per share over the past twelve months. The next ex-dividend date is August 19, 2026, and the company pays $0.61 per quarter. A beta of 0.556 makes AFL stock notably less volatile than the broader market, which suits income investors who prioritize steadiness over price swings. Aflac Incorporated is a Dividend Aristocrat, a status that reflects 40 consecutive years of dividend increases.
Aflac Incorporated pays out 25.6% of earnings as dividends, a payout ratio classified as conservative (below 40%). That low payout leaves substantial room to maintain and grow the dividend even if earnings face pressure, and AFL's dual-segment model spanning cancer, medical, and accident insurance products across two major markets supports recurring premium revenue. Aflac Incorporated dividend safety is further reinforced by the fact that no cut appears anywhere in the available 14-year history. The primary risk is currency exposure: a meaningful portion of AFL's business operates in Japan, so yen-dollar fluctuations can affect reported earnings and, over time, the dollar value of dividends funded by Japanese operations.
Aflac Incorporated dividend history shows a CAGR of 9.9% per year from 2011 to 2025. Per-share payments grew from $0.615 to $2.32 over that span (2026 data is partial and excluded from the rate calculation). The smallest annual increase in the window was 3.7% in 2020, while the largest was 21.2% in 2022, showing that growth has not been uniform year to year. A nearly 10% annualized growth rate means the dividend has roughly doubled every seven years, which is meaningful for income investors who hold AFL stock over long periods.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +13.2% | $1.60 (2022) | $2.32 (2025) |
| 5-Year | +15.7% | $1.12 (2020) | $2.32 (2025) |
| 10-Year | +11.4% | $0.79 (2015) | $2.32 (2025) |
AFL stock fits dividend investors who want a growing income stream from a low-volatility insurer, and are comfortable accepting a moderate yield in exchange for that growth. The current yield of 2.13% sits in the moderate (2–4%) range and matches the 5-year average exactly, so there is no valuation-driven yield expansion on offer here. What Aflac Incorporated does deliver is 40 consecutive years of dividend increases, Dividend Aristocrat status, and a payout ratio of 25.6% that leaves ample room for future raises. The trade-off is straightforward: income investors get a growing, well-covered dividend, but the starting yield is not high enough to satisfy those prioritizing immediate cash flow.
AFL is a Dividend Aristocrat with 40 consecutive years of dividend increases.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-19 | $0.6100 |
| 2026-05-20 | $0.6100 |
| 2026-02-18 | $0.6100 |
| 2025-11-19 | $0.5800 |
| 2025-08-20 | $0.5800 |
| 2025-05-21 | $0.5800 |
| 2025-02-19 | $0.5800 |
| 2024-11-20 | $0.5000 |
| 2024-08-21 | $0.5000 |
| 2024-05-21 | $0.5000 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.8300 |
| 2025 | $2.3200 |
| 2024 | $2.0000 |
| 2023 | $1.6800 |
| 2022 | $1.6000 |
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