Aflac (AFL) nearly triples its share repurchase authorization, adding 40M shares to the remaining 16.9M shares under the prior authorization. If the new authorization is used in full, it would be good for reducing shares outstanding by 9.1%.
Aflac expects to repurchase $800M in shares in 2013 and $800M-$1B in 2014.
The company also recently hiked its quarterly dividend by 5.7%.
Shares +1.1% AH