The Allstate Corporation (ALL) will raise its quarterly dividend by 50 percent to 81 cents per share in 2021. This follows a dividend hike of 8.0 percent to $0.54 per share in the first quarter of 2020 and will mark the 11th straight year of increases by the p&c insurance company.

The next dividend of $0.81 per share is payable in cash on April 1, 2021, to Allstate stockholders of record at the close of business on March 4, 2021. A new annualized dividend rate of $3.24 per share yields 2.4% at a stock price of $135.

The Allstate Corporation is primarily engaged in the property and casualty insurance business and the sale of life and accident and health insurance products in the United States and Canada. The company is the largest publicly held personal lines insurer in the United States and the 2nd largest personal property and casualty insurer. Allstate became a publicly traded company in 1993 and has paid a dividend every year since its IPO.