Allstate calls all $575 million series G perpetual preferreds

By Marisa Wong

Los Angeles, Feb. 17 – Allstate Corp. called for redemption all 23,000 shares of its 5.625% fixed-rate non-cumulative perpetual preferred stock, series G, par value $1.00 per share and liquidation preference $25,000 per share, and the corresponding depositary shares, each representing a 1/1,000th interest in a share of the series G preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

The series preferreds G (NYSE: ALLPrG; Cusip: 020002127) will be redeemed on April 17 at $25.00 per depositary share for a total redemption payment of $575 million.

On April 17, a dividend of $0.3515625 per depositary share will be paid in cash to holders of record at the close of business on March 31.

Allstate is a Northbrook, Ill.-based insurance company.

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