Allstate announces increase in shareholder dividend

NORTHBROOK - Allstate Corp.'s board of directors has approved a quarterly dividend of85 cents per outstanding common share, which is an increase of 4 cents, or 4.9%, per share compared to last quarter.

"A higher dividend and the continued execution of the $5 billion share repurchase program previously authorized by our board demonstrate Allstate's ongoing commitment to return capital to shareholders," said Mario Rizzo, Allstate's chief financial officer. "Over the past five years, Allstate has returned more than $13.7 billion to shareholders."

Allstate also declared the payment of quarterly preferred dividends of approximately $26.3 million in aggregate on three series of preferred stock for the dividend period from Jan. 15 through April 14.