Allstate Raises Quarterly Dividend 4.8% To 22 Cents
February 21 2012 - 3:26PM
Dow Jones News
Allstate Corp. (ALL) raised its quarterly dividend 4.8% as the
largest publicly traded home and auto insurer in the U.S. looks to
boost shareholder value.
The one-cent increase brings the company's quarterly payout to
22 cents a share. The increase will cost Allstate about $20.2
million more a year.
Earlier this month, Allstate said it more than doubled its
fourth-quarter profit as the company won a rare reprieve from the
severe weather that has dragged down results in recent years.
A long roster of severe natural disasters across the U.S. have
plagued Allstate and its rivals in recent years, and prompted
insurers to raise the price of home insurance in many areas.
Shares rose five cents to $31.44 in recent trading. The stock is
up 15% so far this year.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com
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