Dividend Aristocrat insurer Aflac (AFL) will raise its quarterly dividend by 15.6 percent to $0.52 per share in the first quarter of 2018. This follows a 4.7 percent dividend hike last year.

The first quarter dividend of $0.52 per share is payable on March 1, 2018, to shareholders of record at the close of business on February 21, 2018.

Commenting on the company's results, Chairman and Chief Executive Officer Daniel P. Amos stated: "We remain committed to maintaining strong capital ratios on behalf of our policyholders and balance this financial strength with a focus on increasing the dividend, repurchasing shares and reinvesting in our business. The board of directors' action to increase the dividend by 15.6% reflects overall strength in the company's capital position, along with an outlook for stable growth in earnings and deployable capital generation. This accelerated resetting of the dividend as we enter 2018 demonstrates our commitment to rewarding our shareholders. Additionally, we expect share repurchase will be in the range of $1.1 to $1.4 billion in 2018, which assumes stable capital conditions and the absence of compelling alternatives. At the same time, we recognize that prudent investment in our platform is also critical to our growth strategy and driving efficiencies that ultimately will impact the bottom line.

The new dividend yield for Aflac is 2.3%. The company has now increased its dividend for 35 consecutive years.

Aflac Incorporated is engaged in supplemental health and life insurance. The company is a provider of voluntary insurance at the worksite in the United States and medical and cancer insurance in Japan. The Company offers cancer plans, critical illness plans, and critical care and recovery plans. When a policyholder gets sick or hurt, Aflac pays cash benefits fast, giving policyholders the opportunity to direct cash where it’s needed most when a specific health event or life situation causes financial challenges. This is often due to income loss from missed work as well as asset loss from many medical and non-medical out-of-pocket expenses that often arise. Aflac was founded in 1955 and has increased its dividend every year since 1982.