Allstate's Preferred Stock, Series I Yield Pushes Past 4.5%By Preferred Stock Channel Staff, Tuesday, May 11, 2:15 PM ETIn trading on Tuesday, shares of Allstate Corp's 4.750% Noncumulative Perpetual Preferred Stock, Series I (NYSE:ALL.PRI) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $26.38 on the day. This compares to an average yield of 5.34% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ALL.PRI was trading at a 6.60% premium to its liquidation preference amount, versus the average premium of 6.12% 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 :
Free Report: Top 7%+ Dividends (paid monthly) In Tuesday trading, Allstate Corp's 4.750% Noncumulative Perpetual Preferred Stock, Series I (NYSE:ALL.PRI) is currently down about 0.6% on the day, while the common shares (NYSE:ALL) are off about 0.5%.
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