Allstate's Preferred Stock Crosses Above 6% Yield Territory

In trading on Friday, shares of Allstate Corp.'s Fixed Rate Noncumulative Perpetual Preferred Stock (NYSE: ALL.PRD) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.6562), with shares changing hands as low as $27.43 on the day. This compares to an average yield of 5.40% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ALL.PRD was trading at a 10.84% premium to its liquidation preference amount, versus the averag...