Allstate's Preferred Stock, Series I Crosses Above 5.5% Yield Territory

In trading on Thursday, shares of Allstate Corp's 4.750% Noncumulative Perpetual Preferred Stock, Series I (Symbol: ALL.PRI) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $21.41 on the day. This compares to an average yield of 6.45% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ALL.PRI was trading at a 13.40% discount to its liquidation preference amount, versus the average discount of 7.68% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of ALL.PRI shares, versus ALL:

Below is a dividend history chart for ALL.PRI, showing historical dividend payments on Allstate Corp's 4.750% Noncumulative Perpetual Preferred Stock, Series I :

In Thursday trading, Allstate Corp's 4.750% Noncumulative Perpetual Preferred Stock, Series I (Symbol: ALL.PRI) is currently trading flat on the day, while the common shares (Symbol: ALL) are up about 0.4%.

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