The Dynamic Dividend

Allstate Continues Dividend Comeback

The Allstate Corporation (ALL) announced a 5% increase to its dividend after today’s closing bell, marking the second time the insurance giant has given its shareholders a raise since more than halving its payout three years ago.

Allstate declared a quarterly dividend of $0.22 per share, topping the $0.21 per share it had paid each of the last four quarters.

Allstate began returning cash to shareholders in 1993, and had increased its dividend total every single year before cutting its quarterly payout by 51% (from $0.41 per share down to $0.20 per share) in 2009. The company’s dividend remained flat until a 5% increase last February.

Shares of ALL closed today’s session trading at $31.56, where they now yield 2.79%. The stock is up nearly 14% already this year.