Aflac Incorporated (NYSE:AFL) has built an impressive dividend track record over the years. It has raised its dividend for 43 straight years, leaving the company just seven increases away from becoming a Dividend King, a milestone that requires 50 consecutive years of dividend growth.
The company raised its quarterly dividend by 5.2% in early 2026 to $0.61 per share. That was well below the 16% increase announced in 2025, but it still showed that management remains committed to steadily growing the payout.
For income investors, the bigger question is whether Aflac can keep the streak alive for another seven years.
This Dividend Stock Has a Realistic Shot at Becoming a Dividend King
Photo by Scott Graham on Unsplash
The Bull Case
Aflac Incorporated (NYSE:AFL) has a few important factors working in its favor. One of the biggest positives is the strength of Aflac’s business model. The company focuses on supplemental insurance, including coverage that provides cash benefits after events such as a cancer diagnosis. Customers pay premiums before claims are made, giving Aflac capital it can invest in the meantime. That model has helped the company generate steady profits and return money to shareholders for decades.
The second quarter was a mixed bag, but the numbers still point to a financially solid business. Aflac reported $4.1 billion in revenue, down 1% from a year earlier. Net earnings jumped 37.7% to $825 million, or $1.63 per diluted share, partly because of lower investment losses. Adjusted earnings came in at $883 million, while adjusted EPS was $1.75, down 1.7% from $1.78 a year earlier. Looking at the first six months, adjusted EPS increased 4.1% year over year when excluding currency changes. Aflac also posted a 16.6% adjusted return on equity excluding foreign currency remeasurement.
Aflac Incorporated (NYSE:AFL) is also returning a significant amount of cash to shareholders. It returned $1.3 billion in the second quarter, including $983 million through share…
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