UPDATE: Allstate Posts 45% Drop In Q4 Profit, Raises Dividend

Allstate

reported a 45% drop in its fourth-quarter profit and lifted its quarterly dividend to $0.25 per share from $0.22 per share. Allstate's quarterly net income declined to $394 million, or $0.81 per share, from $712 million, or $1.40 per share, in the year-ago period. On an operating basis, Allstate earned $0.59 per share. However, analysts were estimating a loss of $0.05 per share. Allstate shares gained 2.69% to $45.50 in after-hours trading.