In trading on Friday, shares of Allstate Corp's Depopsitory Shares Rep 7.375% Fixed Rate Noncumulative Perpetual Preferred Stock, Series J (Symbol: ALL.PRJ) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.8438), with shares changing hands as low as $26.16 on the day. This compares to an average yield of 6.59% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ALL.PRJ was trading at a 6.36% premium to its liquidation preference amount, versus the average discount of 8.77% 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.
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Below is a dividend history chart for ALL.PRJ, showing historical dividend payments on Allstate Corp's Depopsitory Shares Rep 7.375% Fixed Rate Noncumulative Perpetual Preferred Stock, Series J:
In Friday trading, Allstate Corp's Depopsitory Shares Rep 7.375% Fixed Rate Noncumulative Perpetual Preferred Stock, Series J (Symbol: ALL.PRJ) is currently down about 1% on the day, while the common shares (Symbol: ALL) are down about 6.8%.
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