Allstate Increases Quarterly Dividend by 50%

Rhea-AI Summary

The Allstate Corporation (NYSE: ALL) has declared a quarterly dividend of $0.81 per share, an impressive 50% increase from the previous quarter. This dividend will be paid on April 1, 2021, to shareholders on record by March 4, 2021. Over the past five years, Allstate has returned $2.9 billion in dividends and repurchased 24.9% of shares, investing $5.9 billion in growth acquisitions. The company maintains a $3 billion share repurchase authorization, indicating strong capital deployment and confidence in its growth strategy.

Positive

• Dividend increased by 50% to $0.81 per share.
• Total dividends paid over the last five years amount to $2.9 billion.
• Share repurchase of 24.9% of outstanding shares valued at $8.5 billion.
• Invested $5.9 billion in acquisitions to bolster growth.
• High return on equity positions Allstate favorably in the insurance industry.

Negative

• None.

The Allstate Corporation (NYSE: ALL) board of directors has approved a quarterly dividend of $0.81 cents on each outstanding share of the corporation’s common stock, payable in cash on April 1, 2021, to stockholders of record at the close of business on March 4, 2021. This represents a 50% increase from the dividend declared in the previous quarter.

Allstate’s history of excellent operating results has supported investments in growth and cash returns to shareholders. Over the past five years, the corporation has paid $2.9 billion of common dividends and repurchased 24.9% of common shares outstanding for $8.5 billion. At the same time, $5.9 billion was invested in growth through the acquisitions of SquareTrade, InfoArmor and National General. Today’s action does not impact the current $3 billion share repurchase authorization, which is expected to be completed by the end of 2021.

“The Board’s confidence in Allstate’s growth strategy and sustainable earnings potential supports this substantial quarterly dividend increase,” said Mario Rizzo, Chief Financial Officer. “Allstate’s return on equity is among the highest in the insurance industry and this materially increases our payout ratio and current dividend yield. It also demonstrates our commitment to a capital deployment strategy that creates shareholder value,” concluded Rizzo.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210222005594/en/

FAQ

What is the new dividend amount for Allstate (ALL)?

The new quarterly dividend amount is $0.81 per share.

When will the dividend for Allstate (ALL) be paid?

The dividend will be paid on April 1, 2021.

What was the percentage increase in Allstate's dividend?

The dividend increased by 50% from the previous quarter.

What is the total amount Allstate has returned to shareholders in the last five years?

Allstate has returned $2.9 billion in dividends over the last five years.

How much has Allstate invested in growth through acquisitions?

Allstate has invested $5.9 billion in growth through acquisitions.