NORTHBROOK, Ill., Aug. 30, 2018 /PRNewswire/ -- The Allstate
Corporation (NYSE: ALL) today announced that on Oct. 15, 2018, it will redeem all 15,400
outstanding shares of its Fixed Rate Noncumulative Perpetual
Preferred Stock, Series C (Series C Preferred Stock), and the
corresponding 15,400,000 depositary shares (Depositary Shares),
each representing a 1/1,000th interest in a share
of the Series C Preferred Stock. The Depositary Shares are
currently traded on the New York Stock Exchange under the symbol
"ALL PR C" (CUSIP No. 020002606). The Depositary Shares will be
redeemed at a redemption price of $25.00 per Depositary Share, representing an
aggregate amount of $385,000,000.
The redemption price of $25.00 per
Depositary Share does not include declared and unpaid dividends.
Regular quarterly dividends were declared in the amount of
$0.421875 per Depositary Share and
will be paid separately in the customary manner on Oct. 15, 2018, to holders of record at the close
of business on Sept. 28, 2018. On and
after the redemption date, the Series C Preferred Stock will no
longer be deemed outstanding, and no further dividends will be
declared or payable on the Series C Preferred Stock.
The Depositary Shares are held through The Depository Trust
Company (DTC) and will be redeemed in accordance with the
procedures of DTC. Payment to DTC will be made by Equiniti
Trust Company, Allstate's redemption agent for the Depositary
Shares. Questions about the notice of redemption and related
materials should be directed to EQ Shareowner Services by mail
at P.O. Box 64858, St. Paul, MN,
55164-0858, Attention: Corporate Actions; by overnight courier at
1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN, 55120-4100, Attention:
Corporate Actions; or by telephone at (800) 355-5191.
This press release does not constitute a notice of redemption
under the certificate of designations governing the Series C
Preferred Stock or the deposit agreement governing the Depositary
Shares and is qualified in its entirety by reference to the notice
of redemption issued by The Allstate Corporation.
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
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SOURCE The Allstate Corporation