Allstate (ALL) Declares $0.20 Quarterly Dividend; 2.4% Yield; Announces $1B Share Buyback

Allstate Corporation (NYSE: ALL) today announced that its board of directors has approved a quarterly dividend of 20 cents per share, 80 cents annualized. The dividend is payable in cash on January 3, 2011 to stockholders of record at the close of business on November 30, 2010. The yield is 2.6%. The company also announced a $1 billion share repurchase program that will be made through open market purchases and completed by March 31, 2012. "Allstate is exceptionally well-capitalized, with an estimated $15.1 billion of statutory capital at the insurance companies and $3.5 billion of investments at the holding company as of September 30, 2010," said Thomas J. Wilson, chairman, president and chief executive officer of The Allstate Corporation.... Read more

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