ALL Allstate Corporation

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