Allstate returns cash to shareholders through dividends

NORTHBROOK - Allstate Corp. said Tuesday its board of directors has approved a quarterly stock dividend of 89 cents per outstanding common share. Allstate also declared the payment of quarterly preferred dividends.

Allstate will pay $18.2 million in aggregate dividends on two series of its preferred stock. All the preferred dividends are payable in cash on July 17 to stockholders of record at the close of business on June 30, the insurer said.

Dividends on common shares are payable in cash on July 3 to stockholders of record at the close of business on June 2, Allstate said.