Allstate Boosts Dividend, Sets $2.5 Bln Stock Buyback

(RTTNews) - Insurer Allstate Corp. (ALL) said Wednesday that its board of directors has approved a quarterly dividend of 28 cents on each outstanding share of the company's common stock, payable in cash on April 1 to stockholders of record at the close of business on March 3.

This represents a 12% increase from the dividend declared in the previous quarter.

Allstate also said its board has approved a $2.5 billion common stock repurchase program, to be completed over the next 18 months.

Thomas Wilson, chairman, president and chief executive officer of Allstate, said, "We paid out $2.5 billion in dividends and share repurchases over the last 13 months. Allstate maintains the capital strength and flexibility to increase shareholder value and capitalize on growth opportunities, with $2.6 billion in holding company deployable assets at year-end 2013."