AFL
Aristocrat 🏅Aflac • Financials
Current price
$114.74
Dividend yield
2.13%
Current snapshot
Current profile
Growth-led
1Y DPS +7.6% · payout 26.3%
Growth record
42 years
Consecutive increases
vs. 5Y average yield
-0.00%
5Y average 2.13%
Valuation context
Fair
Most recent ex-date 2026-08-19
Yield context
Current yield is compared with 2.13% over 5 years and 2.21% over 10 years. These comparisons are research context only, not a recommendation.
The most recent ex-dividend date was 2026-08-19.
Quote snapshot (US/Eastern): Sep 9, 2026, 4:00 PM. Quotes are indicative and may be delayed. Not investment advice. Disclaimer & sources
Payout record
AFL dividend history — annual dividend per share
Total regular dividends Aflac paid per share in each completed calendar year, summed from actual payment dates.
Latest full year
$2.32
2025
Years with data
15
Within 2011–2025
Annual growth
+10.0%
Compound annual rate
Change over period
+280%
Per share, cumulative
| Year | Dividend per share | Relative size | vs. prior year |
|---|---|---|---|
| 2025 | $2.32 | +16.0% | |
| 2024 | $2.00 | +19.0% | |
| 2023 | $1.68 | +5.0% | |
| 2022 | $1.60 | +21.2% | |
| 2021 | $1.32 | +17.9% | |
| 2020 | $1.12 | +3.7% | |
| 2019 | $1.08 | +3.8% | |
| 2018 | $1.04 | +19.5% | |
| 2017 | $0.87 | +4.8% | |
| 2016 | $0.83 | +5.1% | |
| 2015 | $0.79 | +5.3% | |
| 2014 | $0.75 | +5.6% | |
| 2013 | $0.71 | +6.0% | |
| 2012 | $0.67 | +9.8% | |
| 2011 | $0.61 | — |
Regular dividends only — special or one-time distributions are excluded so year-over-year changes reflect the ordinary payout. The current year is omitted until it is complete, and a dash marks a year whose source payment records are incomplete. Figures are summed from payment history and may differ from company-reported declared amounts.
Sector comparison
AFL among Financials peers
Dividend yield
2.13%
Median 1.93%
+0.20% vs. sector median · Current yield compared with peers
1Y dividend growth
+7.6%
Median +7.8%
-0.3% vs. sector median · Trailing-12-month comparison
Payout ratio
26.3%
Median 27.7%
-1.4% vs. sector median · Comparable trailing-EPS ratios only
This panel compares the current site snapshot with tracked peers in the same sector. It is research context, not an investment recommendation.
AFL Dividend Calculator
Editorial research
AFL Research & Spotlight
Analysis2026-07-06
An Insurer Whose Dividend Leans on Japan
Aflac sells supplemental health and life insurance, and most of its profit comes not from the United States but from Japan, where it is one of the largest insurers of its kind. That geographic tilt is unusual for a US-listed Dividend Aristocrat, and it shapes the dividend in a specific way. The cash funding 42 years of raises is earned largely in yen and translated back into dollars, which adds a variable most dividend payers never deal with.
A Light Payout Keeps the Dividend Steady
Aflac pays out about 26% of earnings, well under the 43% median for Dividend Aristocrats. A payout that light — what the ratio does and does not settle is set out in The Payout Ratio — gives the dividend a wide margin, which matters for an insurer whose results move with claims, interest rates, and the yen-dollar exchange rate. Keeping nearly three-quarters of earnings back is how Aflac has protected its 42-year streak through all of those swings.
| Metric | Aflac (AFL) | Aristocrat median |
|---|---|---|
| Dividend yield | 1.97% | 2.28% |
| Payout ratio | 25.7% | 43.1% |
| Consecutive raise years | 42 | 32 |
The underlying demand helps as well. Supplemental health and life policies are relatively low-cost for policyholders and tend to stay in force for years, so premiums recur with little churn. That steadiness in the top line, across both the US and Japan, is the foundation the payout rests on, and it is why an insurer can commit to a 42-year raise streak in the first place.
A Yield Slightly Below Its Own Norm
At 1.97%, Aflac's yield sits 7% under its five-year average of 2.13%, and further below its 10-year average of 2.21%. A modestly below-average yield points to a price that has edged a little ahead of the dividend, though not by much, and our screen tags the stock Fair.
| Yield reference | Level | vs current |
|---|---|---|
| Current trailing yield | 1.97% | — |
| 5-year average | 2.13% | −7% |
| 10-year average | 2.21% | −11% |
The Currency Wrinkle Behind the Payout
The Japan exposure is worth understanding, because when the yen weakens against the dollar, Aflac's Japanese profits translate into fewer dollars, which can pressure reported earnings even when the underlying business is healthy. The light payout is the buffer against exactly that. By committing so little of earnings to the dividend, Aflac can absorb currency swings without threatening the streak, which is a large part of why the streak has held despite that added complexity.
The Read
So Aflac is a durable dividend with an unusual engine. The 42-year streak and 25.7% payout describe a well-protected dividend, and the yield sitting slightly below its norm means the stock is priced fairly to a touch rich. The distinctive risk is the yen, which can move reported earnings around, but the low payout is built to handle it. For an income investor comfortable with that currency wrinkle, Aflac offers a steady, well-covered dividend at an ordinary price. The screener shows how that payout and yield rank against the rest of the tier on any given day.
The dividend record and latest figures are in the company's filings on SEC EDGAR. For how we group stocks by history tier and assign a current dividend profile, see our methodology page.
Disclaimer: This is informational only and not financial advice. Figures reflect the site snapshot dated 2026-08-13 and move with the market. Investing carries risk of loss, including loss of principal.
Peer reference