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Allstate Corp., 5.625% Dep Shares Non-Cumulative Perp Preferred Stock Series G
Ticker Symbol: ALL-G* CUSIP: 020002127 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/17/2023
Security has been Called for: Monday, April 17, 2023
Feb. 17, 2023 -- As part of Allstate’s 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%.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Allstate Corp., 5.625% Depositary shares each representing a 1/1000 interest in a share of the Fixed Rate Non-cumulative Perpetual Preferred Stock, Series G, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 4/15/2023 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 5.625% per annum ($1.40625 per annum or $0.3515625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be on the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-16 of the prospectus for further information). This security is possibly subject to an early call as a result of the occurrence of a rating agency event at $25 per depositary share plus a possible make-whole amount (see the prospectus for further information). This security was rated as Baa3 by Moody’s and BBB- by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ALL)
IPO - 3/26/2018 - 20.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ALLSP
Market Value $500.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 3100 Sanders Road, Northbrook, IL 60062 |
| Main Phone Number |
847-402-5000 |
| Fax Number |
Not Available |
| Investor Relations
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800-416-8803
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| Toll Free Phone Number |
800-255-7828 |
| CEO - Thomas J. Wilson |
CFO - Mario Rizzo |
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