The Allstate Corporation (NYSE: ALL) said on Friday that its Board of Directors had authorized a regular quarterly dividend of $0.92 per share.
The latter represents an increase of 3.4% compared to the previous quarter dividend.
The dividend will be paid on April 1st to shareholders of record as of the close of business on March 4th 2024.
The company also announced the payment of quarterly preferred dividends.
”Allstate’s increase in common dividend per share reflects our ongoing commitment to reward our shareholders, and shows Allstate’s continued financial strength,” Jess Merten, Chief Financial Officer of The Allstate Corp, said in a press release.
Stock Performance
The shares of Allstate Corp (ALL) closed 0.66% ($1.06) lower at $159.13 in New York on Friday, as they reversed a 0.64% gain from the previous market session.
The company’s total market cap now stands at $41.862 billion.
The shares of Allstate Corp (ALL) went up 3.23% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 13.68% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 11 out of 15 surveyed investment analysts had rated Allstate Corp’s stock as “Buy”, while 3 – as “Hold”. The median price target on the stock stands at $173.20, which translates into an 8.84% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $196.00.
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