NORTHBROOK, Ill., Feb. 17, 2023 – As part of Allstate’s first step toward better managing our capital, The Allstate Corporation (NYSE: ALL) today announced that on April 17, 2023, it will redeem all of its outstanding G Preferred Stock at a total redemption price of $575 million. The dividend payout ratio is 5.625%.
The redemption will include 23,000 shares of Fixed Rate Noncumulative Perpetual Preferred Stock, Series G, as well as Depositary Shares, each representing 1/1,000.Th interest is a share of Preferred Stock.
The Depositary Shares are currently traded on the New York Stock Exchange under the symbol “ALL PR G” (CUSIP No. 020002127). Depositary Shares will be redeemed at a redemption price of $25.00 per Depositary Share.
On April 17, 2023, a dividend of $0.3515625 per Series G Depository Share will be paid to holders of record at the close of business on March 31, 2023. On and after the redemption date, Series G Preferred Stock. it will no longer be considered good, and no further payment will be announced or paid thereon.
Depositary Shares are held through The Depository Trust Company (DTC) and will be redeemed in accordance with DTC policies. Payments to DTC will be made by Equiniti Trust Company, Allstate’s redemption agent for Depositary Shares. Inquiries regarding the redemption notice and related materials should be sent to EQ Shareowner Services by mail at PO Box 64858, St. Paul, MN, 55164-0858, Notice: Corporate Actions; and overnight delivery at 1110 Center Pointe Curve, Suite 101, Mendota Heights, MN, 55120-4100, Notice: Corporate Transactions.
This news release does not include a notice of redemption under the certificate of redemption governing the Series G Preferred Stock or the deposit agreement governing the Depositary Shares and is qualified in its entirety by virtue of the redemption notice issued by The Allstate Corporation.
Financial information, including announcements about The Allstate Corporation, is posted regularly at www.allstateinvestors.com.
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