Aflac's net income rises in first quarter on strength of Yen

Alfac Inc. reported first-quarter results that beat Wall Street's expectations, largely on the strength of the Yen, currency to Japan, it's largest market. But the weak U.S. economy continued to hamper the Columbus-based supplemental insurer's domestic sales efforts. Aflac, which also set its second-quarter dividend at 28 cents per share, said earnings rose to $636 million, or $1.35 per share, compared with $569 million, or $1.22 per share in the year-ago quarter. The results, which included an after-tax charge of $30 million, or six cents per share from investment losses, beat analysts' expectations by three cents. Sales in the quarter rose more than five percent to $5 billion from $4.8 billion.