Allstate raises quarterly dividend by 8.7% to 50 cents a share

Insurer Allstate Corp. said Friday it is raising its quarterly dividend by 8.7% to 50 cents a share. The new dividend will be payable April 1 to shareholders of record as of Feb. 28. Shares were slightly lower Friday, but have gained 2.4% in the last 12 months, while the S&P 500 has gained 4.6%.