Aflac (AFL) Dividend Payout Ratio: 0.35 (As of Mar. 2026) — 40% Above Median


AFL Aflac Inc AFL
75 GF Score
Price $118.23
GF Value $109.41
Valuation Fairly Valued
! 4 Warning Signs
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What is Aflac Dividend Payout Ratio?

Aflac AFL +0.41% 75 Dividend Payout Ratio is 0.35 as of Mar. 2026, which is 40% above its 10-year median of 0.25. GuruFocus rates AFL with a GF Score™ of 75/100 and a GF Value™ of $109.41 (Fairly Valued). The stock has 4 warning signs investors should review. Among 335 Insurance companies, Aflac ranks better than 54.03% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Aflac's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.35.

The historical rank and industry rank for Aflac's Dividend Payout Ratio or its related term are showing as below:

AFL' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.23   Med: 0.25   Max: 0.34
Current: 0.34

During the past 13 years, the highest Dividend Payout Ratio of Aflac was 0.34. The lowest was 0.23. And the median was 0.25.

AFL's Dividend Payout Ratio is ranked better than
54.03% of 335 companies
in the Insurance industry
Industry Median: 0.38 vs AFL: 0.34

As of today (2026-06-25), the Dividend Yield % of Aflac is 1.98%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Aflac was 4.04%. The lowest was 1.66%. And the median was 2.13%.

Aflac's Dividends per Share for the months ended in Mar. 2026 was $0.61.

During the past 12 months, Aflac's average Dividends Per Share Growth Rate was 13.00% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 13.20% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 15.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 11.50% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Aflac was 29.70% per year. The lowest was 5.10% per year. And the median was 14.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Aflac (NYSE:AFL) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Aflac Dividend Payout Ratio Related Terms

Aflac Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Aflac's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Aflac Dividend Payout Ratio Chart

Aflac Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.23 0.30 0.27 0.27 0.31

Aflac Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.35 0.52 0.23 0.37 0.35

AFL vs MET, PRU, UNM: Dividend Payout Ratio Comparison

For the Insurance - Life subindustry, Aflac's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Aflac Dividend Payout Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Aflac's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Aflac's Dividend Payout Ratio falls into.


AFL
75GF Score
Aflac Inc AFL
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Aflac Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Aflac's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=2.32/ 7.49
=0.31

Aflac's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=0.61/ 1.75
=0.35

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.35 mean?
Aflac (AFL) has a Dividend Payout Ratio of 0.35 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Aflac and its competitors. This is 40% above median its historical median of 0.25. Over the past decade, Aflac's Dividend Payout Ratio has ranged from 0.23 to 0.34. According to the industry distribution chart, Aflac ranks #154 out of 335 companies in the Insurance industry, placing it in the top 46%.
Is Aflac's Dividend Payout Ratio too high?
Aflac's current Dividend Payout Ratio of 0.35 is 40% above median its 10-year median of 0.25. Over the past 10 years, this metric has ranged from a low of 0.23 to a high of 0.34. The Insurance industry median Dividend Payout Ratio is 0.38. Aflac's value of 0.35 is 7.9% below this industry median. Based on the distribution chart, Aflac ranks #154 out of 335 companies in the Insurance industry, which is above the industry midpoint. Overall, Aflac has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aflac's Dividend Payout Ratio compare to MET and PRU?
According to the Insurance industry distribution chart, Aflac ranks #154 out of 335 companies for Dividend Payout Ratio. This puts Aflac in the upper half of its industry. The industry median Dividend Payout Ratio is 0.38. Aflac's value of 0.35 is 7.9% below this benchmark. Historically, Aflac's own Dividend Payout Ratio has ranged from 0.23 to 0.34 over the past decade. While the company's 10-year median is 0.25 vs. the industry median of 0.38, Aflac has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for an Insurance company?
The median Dividend Payout Ratio among Insurance companies is 0.38, based on 335 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aflac's current Dividend Payout Ratio of 0.35 is 7.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Aflac and its competitors. For the Insurance industry, the median Dividend Payout Ratio is 0.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aflac's current Dividend Payout Ratio is 0.35, which is 40% above median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aflac stock overvalued right now?
Based on GuruFocus' analysis, Aflac (AFL) is currently considered Fairly Valued. The stock's GF Value™ is $109.41, compared to a current price of $118.23 — trading 8.1% above its estimated fair value. The current Dividend Payout Ratio is 0.35, which is 40% above median its 10-year median of 0.25 and 7.9% below the Insurance industry median of 0.38. Aflac's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Aflac (AFL), the current Dividend Payout Ratio is 0.35 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Aflac (AFL) Overvalued in 2026?

Based on GuruFocus' analysis, Aflac stock appears to be overvalued. The current stock price of $118.23 is trading 8.1% above its estimated GF Value™ of $109.41. GuruFocus considers Aflac to be Fairly Valued.

Key valuation signals for AFL:

  • Dividend Payout Ratio: 0.35 (40% above median its 10-year median of 0.25)
  • GF Value™: $109.41 vs. price of $118.23 (8.1% above fair value)
  • GF Score™: 75/100 with 4 warning signs
  • Industry Position: 7.9% below the Insurance median (#154 of 335)

No single metric tells the full story. See the AFL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Aflac Business Description

Address 1932 Wynnton Road, Columbus, GA, USA, 31999
Aflac Inc offers supplemental health insurance and life insurance in the United States and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, dental and vision, disability, and long-term-care insurance. It markets its products through independent distributors, selling the majority of its policies directly to consumers at their places of work, and also reaches out to its customers outside of their worksite through digital mediums. The company has two reportable business segments: Aflac Japan, which generates the maximum revenue, and Aflac U.S.
75GF Score

Get the complete analysis for AFL

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$118.23
Price
$109.41
GF Value