Aflac Incorporated
AFL41 yrs growthFinancial Services · Stock · quarterly payer
Forward Yield
2.12%
Annual Dividend
$2.44
Payout Ratio
26%
5-Yr Growth
15.7%
Ex-Date
Aug 19, 2026
Frequency
Quarterly
Summary
As of September 2026, Aflac Incorporated (AFL) yields 2.12% ($2.44 per share annually), with a blended fair-value estimate of $133.16 — +16% upside, so it screens as undervalued. Dividend safety grade: A (99/100). 41 years of dividend growth.
Is AFL a good dividend stock?
YesAflac Incorporated (AFL) pays a quarterly dividend yielding 2.12% ($2.44/yr), with 41 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Dividend Aristocrat — 41 consecutive years of growth
- Never cut its dividend on record
- Comfortable payout ratio (26%)
- Strong 15.7% 5-yr dividend growth
- 121% total price return over 5 years
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.12%
- Payout Ratio
- 26%
- Annual Dividend
- $2.44
- 5-Yr Avg Growth
- 15.7%
- Ex-Dividend Date
- Aug 19, 2026
- Years of Growth
- 41
- Frequency
- quarterly
- Beta
- 0.58
- Market Cap
- $57.8B
- P/E Ratio
- 12.4
- 5-Yr Total Return
- 121%
- 52-Week Range
- $105.43 – $130.22
- Dividend Safety
- A · 99/100
- Ever Cut?
- No
Frequently Asked Questions
AFL Price — Last 12 Months
Daily close
Price Return
1 Year
+3%
3 Years
+50%
5 Years
+121%
52-Week Range
$105.43 – $130.22
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is AFL worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Aflac Incorporated is $133.16 per share, versus a market price of $115.28. That implies 16% of upside — a margin of safety of about 13%.
Fair Value
$133.16
Current Price
$115.28
Upside
+16%
Margin of Safety
13%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 3.8% annual free-cash-flow growth. We model 7.6% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.2% discount rate (CAPM), 7.6% stage-1 growth, 2.5% terminal growth, $9.27 EPS, $2.44 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
AFL Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 19, 2026 | — | $0.6100 | regular |
| May 20, 2026 | — | $0.6100 | regular |
| Feb 18, 2026 | — | $0.6100 | regular |
| Nov 19, 2025 | — | $0.5800 | regular |
| Aug 20, 2025 | — | $0.5800 | regular |
| May 21, 2025 | — | $0.5800 | regular |
| Feb 19, 2025 | — | $0.5800 | regular |
| Nov 20, 2024 | — | $0.5000 | regular |
| Aug 21, 2024 | — | $0.5000 | regular |
| May 21, 2024 | — | $0.5000 | regular |
| Feb 20, 2024 | — | $0.5000 | regular |
| Nov 14, 2023 | — | $0.4200 | regular |
| Aug 22, 2023 | — | $0.4200 | regular |
| May 16, 2023 | — | $0.4200 | regular |
Income Calculator
At $2.44 / yr per share
