Navigation Links
Aflac Incorporated to Accelerate Share Repurchase in 2008; Authorizes Additional Share Repurchase and Increases Quarterly Cash Dividend 17.1%

COLUMBUS, Ga., Jan. 29 /PRNewswire-FirstCall/ -- Aflac Incorporated (NYSE: AFL) announced today that it intends on conducting an accelerated repurchase of approximately 12 million shares of its common stock in the first quarter of 2008. This accelerated share repurchase will be funded with internal capital.

(Logo: )

To provide for future share repurchase activities, the board of directors today authorized the purchase of up to an additional 30 million shares of its common stock. This authorization is in addition to the 25.6 million shares that remained under a previous authorization as of December 31, 2007, bringing the total number of shares available for purchase to 55.6 million.

The board of directors also approved a 17.1% increase in the quarterly cash dividend, effective with the first quarter payment. The first quarter dividend of $.24 per share is payable on March 3, 2008, to shareholders of record at the close of business on February 20, 2008.

Commenting on the news, Chairman and Chief Executive Officer Daniel P. Amos stated: "I am very pleased with today's actions by our board of directors. These steps are consistent with our intention of deploying excess capital in a manner that benefits our shareholders, while still maintaining very strong capital adequacy ratios to support our ratings.

"In addition to accelerating our planned annual repurchase of 12 million shares, we also anticipate buying more shares later in the year, depending on market conditions. Purchasing 12 to 18 million shares this year gives us greater confidence in achieving the high end of our 13% to 15% range for operating earnings per share growth for 2008. We will also be better positioned to extend our lengthy record of strong earnings growth into 2009. I remain focused on increasing operating earnings per share by at least 15%, excluding the impact of the yen, through 2009, which will mark my first 20 years as CEO. I still believe that goal is achievable, and I continue to believe we are poised for strong growth beyond 2009 as well.

"I am also pleased with the increase in our cash dividend. Aflac's annual cash dividend payment to shareholders has compounded at 21.7% annually over the last 10 years. This increase marks the 26th consecutive year in which we have raised the dividend payment. I believe the combination of strong earnings growth and increasing cash dividends is an effective means for enhancing value to Aflac's shareholders."

For more than 50 years, Aflac products have given policyholders the opportunity to direct cash where it is needed most when a life-interrupting medical event causes financial challenges. Aflac is the number one provider of guaranteed-renewable insurance in the United States and the number one insurance company in terms of individual insurance policies in force in Japan. Our insurance products provide protection to more than 40 million people worldwide. Aflac has been included in Fortune magazine's listing of America's Most Admired Companies for seven consecutive years and in Fortune magazine's list of the 100 Best Companies to Work For in America for ten consecutive years. Aflac has also been recognized three times by both Fortune magazine's listing of the Top 50 Employers for Minorities and Working Mother magazine's listing of the 100 Best Companies for Working Mothers. Aflac Incorporated is a Fortune 500 company listed on the New York Stock Exchange under the symbol AFL. To find out more about Aflac, visit

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. We desire to take advantage of these provisions. This document contains cautionary statements identifying important factors that could cause actual results to differ materially from those projected herein, and in any other statements made by company officials in communications with the financial community and contained in documents filed with the Securities and Exchange Commission (SEC). Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Furthermore, forward- looking information is subject to numerous assumptions, risks, and uncertainties. In particular, statements containing words such as "expect," "anticipate," "believe," "goal," "objective," "may," "should," "estimate," "intends," "projects," "will," "assumes," "potential," "target," or similar words as well as specific projections of future results, generally qualify as forward-looking. Aflac undertakes no obligation to update such forward-looking statements.

We caution readers that the following factors, in addition to other factors mentioned from time to time could cause actual results to differ materially from those contemplated by the forward-looking statements: legislative and regulatory developments; assessments for insurance company insolvencies; competitive conditions in the United States and Japan; new product development and customer response to new products and new marketing initiatives; ability to attract and retain qualified sales associates and employees; ability to repatriate profits from Japan; changes in U.S. and/or Japanese tax laws or accounting requirements; credit and other risks associated with Aflac's investment activities; significant changes in investment yield rates; fluctuations in foreign currency exchange rates; deviations in actual experience from pricing and reserving assumptions including, but not limited to, morbidity, mortality, persistency, expenses, and investment yields; level and outcome of litigation; downgrades in the company's credit rating; changes in rating agency policies or practices; subsidiary's ability to pay dividends to parent company; ineffectiveness of hedging strategies; catastrophic events; and general economic conditions in the United States and Japan, including increased uncertainty in the U.S. and international financial markets.

Analyst and investor contact -- Kenneth S. Janke Jr., 800.235.2667 -- option 3, FAX: 706.324.6330, or

Media contact -- Laura Kane, 706.596.3493, FAX: 706.320.2288, or

SOURCE Aflac Incorporated
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Aflac Announces Resignation of U.S. Marketing Officer
2. Aflac Incorporated to Release Third Quarter Results On October 23, 2007
3. Aflac Incorporated Announces Third Quarter Results, Declares Fourth Quarter Cash Dividend
4. Aflac Honors Hispanic Entrepreneurs Making a Difference in Texas
5. Aflac Japan To Offer Cancer Insurance Product Through Japan Post
6. Aflac Incorporated to Present at the Goldman Sachs Financial Services CEO Conference 2007
7. Aflac to Sponsor Iron Girl
8. Accuray Incorporateds CEO to Speak at UBS Global Life Sciences Conference
9. Accuray Incorporated to Report First Quarter Fiscal Year 2008 Financial Results
10. Accuray Incorporated to Host Investor and Analyst Meeting at ASTRO 2007
11. ViroPharma Incorporated Reports Third Quarter and Nine-Month 2007 Financial Results
Post Your Comments:
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set ... drug or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, ... traumatic event. , Trauma sufferers tend to feel a range of emotions, from depression, ...
(Date:6/24/2016)... ... ... Marcy was in a crisis. Her son James, eight, was out of control. Prone to ... , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there ... my other children and say he was going to kill them. If we were ...
(Date:6/24/2016)... ... 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida ... their peers for this recognition are considered among the top 2 percent of lawyers ... as members of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Comfort Keepers® ... American Cancer Society and the Road To Recovery® program to drive cancer patients to ... and other adults to ensure the highest quality of life and ongoing independence. ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. are sharpening ... Talker Award, an essay contest in which patients and their families pay tribute to ... at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... -- According to a new market research ... Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, ... Purchase (Retail, Non-Retail) - Trends & Global Forecasts to ... for the forecast period of 2016 to 2021. This ... 2021 from USD 1.65 Billion in 2016, growing at ...
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
(Date:6/23/2016)... , June 23, 2016  In a startling report released today, ... their residents by lacking a comprehensive, proven plan to eliminate prescription ... definitive ranking of how states are tackling the worst drug crisis ... four states – Kentucky , New ... Vermont . Of the 28 failing states, three – ...
Breaking Medicine Technology: