Allstate (ALL) Stock: Dividend Increase Announced

By Amit Chowdhry ● Feb 21, 2022
  • The Allstate Corporation (NYSE: ALL) recently announced a dividend increase. These are the details.

The Allstate Corporation (NYSE: ALL) recently announced that its board of directors has approved a quarterly dividend of $0.85 per outstanding common share, which is an increase of $0.04, or 4.9%, per share compared to last quarter. And Allstate also declared the payment of quarterly preferred dividends.

Common Stock Dividends

Allstate had declared a quarterly dividend of $0.85 cents on each outstanding share of the corporation’s common stock, payable in cash on April 1, 2022, to stockholders of record at the close of business on Feb. 28, 2022.

Preferred Stock Dividends

Allstate also declared approximately $26.3 million in aggregate dividends on three series of preferred stock for the dividend period from Jan. 15, 2022, through April 14, 2022. All of the preferred dividends are payable in cash on April 15, 2022, to stockholders of record at the close of business on March 31, 2022, as follows:

Series G: 5.625% Annual Dividend Rate; $0.3515625 Quarterly Amount Per Depositary Share

Series H: 5.1% Annual Dividend Rate; $0.3187500 Quarterly Amount Per Depositary Share

Series I: 4.75% Annual Dividend Rate; $0.2968750 Quarterly Amount Per Depositary Share

KEY QUOTE:

“Allstate continues to provide excellent cash returns to shareholders while simultaneously advancing our strategic priorities for the business. A higher dividend and the continued execution of the $5 billion share repurchase program previously authorized by our board demonstrate Allstate’s ongoing commitment to return capital to shareholders. Over the past five years, Allstate has returned more than $13.7 billion to shareholders.”

— Mario Rizzo, Allstate’s Chief Financial Officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.