The Columbus, Ga., insurer said it will pay a 13-cent quarterly dividend March 1 to shareholders of record Feb. 17. The company said the new rate marks an 18% increase over the previous 11 cents.
The company said the 30 million-share buyback adds to a 17 million-share authority that existed at Dec. 31.
"This marks the 24th consecutive year of cash dividend increases for Aflac," said CEO Dan Amos. "I believe the board's decision to increase the dividend and to authorize additional shares for repurchase reflects our continued optimism in Aflac's outlook."