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Aflac Incorporated to Accelerate Share Repurchase in 2008; Authorizes Additional Share Repurchase and Increases Quarterly Cash Dividend 17.1%
Date:1/29/2008

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.

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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 o
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SOURCE Aflac Incorporated
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