The Allstate Corporation announced that its board of directors approved a quarterly common stock dividend of $1.00 per share, representing an increase of $0.08, or 8.7%, compared to the previous quarter. This increased dividend is payable in cash on April 1, 2025, to stockholders of record at the close of business on March 10, 2025. This move signals Allstate's strong financial position and confidence in its future outlook.
In addition to the dividend increase, the board authorized a new $1.5 billion share repurchase program for outstanding common stock. This program will remain in effect through September 30, 2026, providing flexibility for capital management. Such a significant repurchase authorization can enhance shareholder value by reducing the number of outstanding shares.
Jess Merten, Allstate’s Chief Financial Officer, stated that these actions reflect the company’s strong financial position and continued confidence in its strategy. The combination of a higher dividend and a substantial share repurchase program underscores Allstate's commitment to delivering value for its shareholders through disciplined capital management.
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