Aflac Incorporated

AFL41 yrs growth

Financial Services · Insurance - Life · Stock · quarterly payer

$123.54

Fairly valued · +9% Add to Portfolio

Forward Yield

2.00%

Annual Dividend

$2.44

Payout Ratio

26%

5-Yr Growth

15.7%

Ex-Date

Aug 19, 2026

Frequency

Quarterly

Key facts about AFL's dividend

Data as of Oct 30, 2026 · Source: SmarterDividends data

As of Oct 30, 2026, Aflac Incorporated (AFL) has a forward dividend yield of 2.00%, based on an annual dividend of $2.44 per share and a share price of $123.54.
As of Oct 30, 2026, AFL's dividend safety grade from SmarterDividends is A (99 out of 100), which rates the dividend as very safe.
By SmarterDividends' count, Aflac Incorporated (AFL) has raised its dividend for 41 consecutive years as of Oct 30, 2026, which makes it a Dividend Aristocrat by the 25-year definition.
AFL has never cut its regular dividend in the payment history SmarterDividends has on record.
AFL's most recent ex-dividend date was Aug 19, 2026, for a dividend of $0.61 per share.
As of Oct 30, 2026, AFL pays out 26% of its trailing 12-month earnings as dividends (its payout ratio).
AFL's dividend has grown at an average rate of 15.7% a year over the past five years.
As of Oct 30, 2026, AFL's 2.00% yield is 14% below its five-year average yield of 2.32%.
As of Oct 30, 2026, SmarterDividends' blended fair-value estimate for AFL is $134.35 per share, 9% above the $123.54 share price, so AFL screens as fairly valued.
Aflac Incorporated (AFL) pays its dividend quarterly, 4 times a year.
Aflac Incorporated (AFL) has raised its regular dividend 47 times and cut it 0 times across the 169 payments on record since 1984. Its most recent change was a 5.2% increase to $0.610 per share, going ex-dividend on Feb 18, 2026.
Aflac (AFL) has declared its first higher dividend of the year in November in 4 of the last 5 years; its most recent raise, 5.2%, was declared on Nov 11, 2025.

Cite this page

SmarterDividends, "AFL Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 30, 2026, https://smarterdividends.com/stocks/AFL

Summary

As of Oct 30, 2026, Aflac Incorporated (AFL) yields 2.00% ($2.44 a year per share), has a dividend safety grade of A (99/100) and has 41 consecutive years of dividend increases on record.

Is AFL a good dividend stock?

Yes

Aflac Incorporated (AFL) pays a quarterly dividend yielding 2.00% ($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
123% total price return over 5 years
Top-tier dividend safety score

Risks

Single-stock concentration risk — diversify

Key Data

Dividend Yield: 2.00%
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: 0.56
Market Cap: $61.9B
P/E Ratio: 13.3
5-Yr Total Return: 123%
52-Week Range: $105.43 – $130.22
Dividend Safety: A · 99/100
Ever Cut?: No

AFL dividend raises and cuts

Aflac Incorporated (AFL) has raised its regular dividend 47 times and cut it 0 times across the 169 payments on record since 1984. Its most recent change was a 5.2% increase to $0.610 per share, going ex-dividend on Feb 18, 2026.

Ex-date	Change	Old → new	Move
Feb 18, 2026	Raise	$0.580 → $0.610	+5.2%
Feb 19, 2025	Raise	$0.500 → $0.580	+16.0%
Feb 20, 2024	Raise	$0.420 → $0.500	+19.0%
Feb 14, 2023	Raise	$0.400 → $0.420	+5.0%
Feb 15, 2022	Raise	$0.330 → $0.400	+21.2%
Feb 16, 2021	Raise	$0.280 → $0.330	+17.9%
Feb 18, 2020	Raise	$0.270 → $0.280	+3.7%
Feb 19, 2019	Raise	$0.260 → $0.270	+3.8%
Feb 20, 2018	Raise	$0.225 → $0.260	+15.6%
Nov 14, 2017	Raise	$0.215 → $0.225	+4.7%
Nov 14, 2016	Raise	$0.205 → $0.215	+4.9%
Nov 16, 2015	Raise	$0.195 → $0.205	+5.1%

Show all 47 changes since 1984

Ex-date	Change	Old → new	Move
Nov 17, 2014	Raise	$0.185 → $0.195	+5.4%
Nov 18, 2013	Raise	$0.175 → $0.185	+5.7%
Nov 9, 2012	Raise	$0.165 → $0.175	+6.1%
Nov 14, 2011	Raise	$0.150 → $0.165	+10.0%
Nov 15, 2010	Raise	$0.140 → $0.150	+7.1%
Feb 13, 2009	Raise	$0.120 → $0.140	+16.7%
Feb 15, 2008	Raise	$0.103 → $0.120	+17.1%
May 16, 2007	Raise	$0.0925 → $0.103	+10.8%
Feb 14, 2007	Raise	$0.0800 → $0.0925	+15.6%
Nov 15, 2006	Raise	$0.0650 → $0.0800	+23.1%
Feb 15, 2006	Raise	$0.0550 → $0.0650	+18.2%
Feb 16, 2005	Raise	$0.0475 → $0.0550	+15.8%
Feb 11, 2004	Raise	$0.0400 → $0.0475	+18.8%
Aug 12, 2003	Raise	$0.0350 → $0.0400	+14.3%
Feb 12, 2003	Raise	$0.0300 → $0.0350	+16.7%
May 14, 2002	Raise	$0.0250 → $0.0300	+20.0%
May 15, 2001	Raise	$0.0213 → $0.0250	+17.6%
May 16, 2000	Raise	$0.0188 → $0.0213	+13.3%
May 18, 1999	Raise	$0.0163 → $0.0188	+15.4%
May 19, 1998	Raise	$0.0144 → $0.0163	+13.0%
May 20, 1997	Raise	$0.0125 → $0.0144	+15.0%
May 15, 1996	Raise	$0.0108 → $0.0125	+15.4%
May 15, 1995	Raise	$0.0096 → $0.0108	+13.0%
May 16, 1994	Raise	$0.0083 → $0.0096	+15.0%
May 10, 1993	Raise	$0.0073 → $0.0083	+13.6%
May 11, 1992	Raise	$0.0067 → $0.0073	+10.0%
Nov 8, 1991	Raise	$0.0060 → $0.0067	+11.1%
Nov 9, 1990	Raise	$0.0053 → $0.0060	+12.5%
Nov 13, 1989	Raise	$0.0047 → $0.0053	+14.3%
Nov 14, 1988	Raise	$0.0040 → $0.0047	+16.7%
Nov 9, 1987	Raise	$0.0037 → $0.0040	+9.1%
Nov 10, 1986	Raise	$0.0033 → $0.0037	+10.0%
May 9, 1986	Raise	$0.0030 → $0.0033	+11.1%
Aug 9, 1985	Raise	$0.0027 → $0.0030	+12.5%
Oct 22, 1984	Raise	$0.0023 → $0.0027	+17.3%

Every AFL payment →Download every raise and cut (CSV)

AFL ex-dividend date & scheduleNext ex-date Aug 19, 2026 · full ex-dividend historyView →AFL dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is AFL a good dividend stock?

Yes. Aflac Incorporated (AFL) pays a quarterly dividend yielding 2.00% ($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.

Is AFL undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, AFL's fair value is about $134.35 versus a $123.54 share price — so it looks fairly valued (+9% vs. fair value).

Is AFL's dividend safe?

AFL has a dividend-safety grade of A (99/100), based on its payout coverage, free-cash-flow, 41-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is AFL's fair value?

Our blended fair-value estimate for AFL is about $134.35 per share, roughly 9% above the current $123.54 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is AFL a buy, hold, or sell?

We don't issue formal ratings, but on the data AFL screens as "yes" and fairly valued. Aflac Incorporated (AFL) pays a quarterly dividend yielding 2.00% ($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. This is research for your own analysis, not investment advice.

Will AFL cut its dividend?

AFL earns a dividend-safety grade of A (99/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does AFL pay a dividend?

Yes. Aflac Incorporated pays a quarterly dividend of about $2.44 per share annually, a forward yield of roughly 2.00%.

What is AFL's dividend yield?

As of Oct 30, 2026, AFL's forward dividend yield is 2.00%, based on a $2.44 annual dividend and a $123.54 share price.

What is AFL's dividend per share?

As of Oct 30, 2026, AFL pays $2.44 per share per year, distributed on a quarterly basis.

What is AFL's dividend payout ratio?

As of Oct 30, 2026, AFL's payout ratio is 26% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has AFL grown its dividend?

As of Oct 30, 2026, AFL has increased its dividend for 41 consecutive years.

When is the next AFL ex-dividend date?

As of Oct 30, 2026, AFL's next ex-dividend date hasn't been announced. The most recent was Aug 19, 2026, for $0.61 per share.

Dividend Growth

Total dividends per share by year

Dividend History

Full AFL dividend history →

Ex-Date	Pay Date	Amount	Type
Aug 19, 2026	Sep 1, 2026	$0.6100	regular
May 20, 2026	Jun 1, 2026	$0.6100	regular
Feb 18, 2026	Mar 2, 2026	$0.6100	regular
Nov 19, 2025	Dec 1, 2025	$0.5800	regular
Aug 20, 2025	Sep 2, 2025	$0.5800	regular
May 21, 2025	Jun 2, 2025	$0.5800	regular
Feb 19, 2025	Mar 3, 2025	$0.5800	regular
Nov 20, 2024	Dec 2, 2024	$0.5000	regular
Aug 21, 2024	Sep 2, 2024	$0.5000	regular
May 21, 2024	Jun 3, 2024	$0.5000	regular
Feb 20, 2024	Mar 1, 2024	$0.5000	regular
Nov 14, 2023	Dec 1, 2023	$0.4200	regular
Aug 22, 2023	Sep 1, 2023	$0.4200	regular
May 16, 2023	Jun 1, 2023	$0.4200	regular