{"id":732690,"date":"2023-02-17T16:42:04","date_gmt":"2023-02-17T21:42:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-redemption-of-series-g-preferred-stock\/"},"modified":"2023-02-17T16:42:04","modified_gmt":"2023-02-17T21:42:04","slug":"allstate-announces-redemption-of-series-g-preferred-stock","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-redemption-of-series-g-preferred-stock\/","title":{"rendered":"Allstate Announces Redemption of Series G Preferred Stock"},"content":{"rendered":"

<\/p>\n

Allstate Announces Redemption of Series G Preferred Stock<\/b><\/p>\n

NORTHBROOK, Ill.–(BUSINESS WIRE<\/a>)–
\nAs part of Allstate\u2019s priority to effectively manage our capital, The Allstate Corporation (NYSE: ALL) today announced that on April 17, 2023, it will redeem all of its outstanding Series G Preferred Stock at par for a total redemption payment of $575 million. The dividend rate of the securities to be redeemed is 5.625%.\n<\/p>\n

\nThe redemption will include all 23,000 shares of its Fixed Rate Noncumulative Perpetual Preferred Stock, Series G, as well as the corresponding Depositary Shares, each representing a 1\/1,000th<\/sup> interest in a share of the Preferred Stock.\n<\/p>\n

\nThe Depositary Shares are currently traded on the New York Stock Exchange under the symbol \u201cALL PR G\u201d (CUSIP No. 020002127). The Depositary Shares will be redeemed at a redemption price of $25.00 per Depositary Share.\n<\/p>\n

\nOn April 17, 2023, a dividend in the amount of $0.3515625 per Series G Depository Share will be paid in cash to holders of record at the close of business on March 31, 2023. On and after the redemption date, the Series G Preferred Stock will no longer be deemed outstanding, and no further dividends will be declared or payable on it.\n<\/p>\n

\nThe Depositary Shares are held through The Depository Trust Company (DTC) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Equiniti Trust Company, Allstate\u2019s redemption agent for the Depositary Shares. Questions about the notice of redemption and related materials should be directed to EQ Shareowner Services by mail at P.O. Box 64858, St. Paul, MN, 55164-0858, Attention: Corporate Actions; by overnight courier at 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN, 55120-4100, Attention: Corporate Actions.\n<\/p>\n

\nThis news release does not constitute a notice of redemption under the certificate of designations governing the Series G Preferred Stock or the deposit agreement governing the Depositary Shares and is qualified in its entirety by reference to the notice of redemption issued by The Allstate Corporation.\n<\/p>\n

\nFinancial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230217005345\/en\/<\/a><\/span><\/p>\n

\nAl Scott
\n
Media Relations
\n
(847) 402-5600\n<\/p>\n

\nMark Nogal
\n
Investor Relations
\n
(847) 402-2800\n<\/p>\n

KEYWORDS:<\/b> United States North America Illinois<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Insurance Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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Allstate Announces Redemption of Series G Preferred Stock NORTHBROOK, Ill.–(BUSINESS WIRE)– As part of Allstate\u2019s priority to effectively manage our capital, The Allstate Corporation (NYSE: ALL) today announced that on April 17, 2023, it will redeem all of its outstanding Series G Preferred Stock at par for a total redemption payment of $575 million. The dividend rate of the securities to be redeemed is 5.625%. The redemption will include all 23,000 shares of its Fixed Rate Noncumulative Perpetual Preferred Stock, Series G, as well as the corresponding Depositary Shares, each representing a 1\/1,000th interest in a share of the Preferred Stock. The Depositary Shares are currently traded on the New York Stock Exchange under the symbol \u201cALL PR G\u201d (CUSIP … <\/p>\n

Continue reading “Allstate Announces Redemption of Series G Preferred Stock”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-732690","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAllstate Announces Redemption of Series G Preferred Stock - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-redemption-of-series-g-preferred-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allstate Announces Redemption of Series G Preferred Stock - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Allstate Announces Redemption of Series G Preferred Stock NORTHBROOK, Ill.–(BUSINESS WIRE)– As part of Allstate\u2019s priority to effectively manage our capital, The Allstate Corporation (NYSE: ALL) today announced that on April 17, 2023, it will redeem all of its outstanding Series G Preferred Stock at par for a total redemption payment of $575 million. The dividend rate of the securities to be redeemed is 5.625%. The redemption will include all 23,000 shares of its Fixed Rate Noncumulative Perpetual Preferred Stock, Series G, as well as the corresponding Depositary Shares, each representing a 1\/1,000th interest in a share of the Preferred Stock. 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