01—Abstract
Summary
Summary of the 10-K/A filed March 29, 2000. Cited figures are marked; the original filing is the authoritative source.
This is Amendment No. 1 (Form 10-K/A) to The Allstate Corporation's annual report for the fiscal year ended December 31, 1999.
The excerpt provided contains only the cover page and Item 5 (Market for Registrant's Common Equity). It does not include financial statements, segment results, premium or underwriting data, reserves, or management's discussion of operations, so this summary cannot assess profitability, balance sheet strength, or the reasons behind the company's performance. The Item 5 data shows a difficult year for the stock.
Shares traded between a 1999 high of $41a (first quarter) and a low of $22 7/8 (fourth quarter). The stock closed 1999 at $24 1/16, roughly 37.5% below the $38 1/2 fourth-quarter 1998 close. The sharpest decline came in the third quarter, when the price fell from about $35 to a low of $24 13/16.
Shareholders also received a higher quarterly dividend of $0.15b in 1999, up from $0.135 in 1998, which equals $0.60 annually versus $0.54 (about an 11% increase). The company had 776.1 million common shares outstanding as of January 31, 2000, with approximately 179,523 record holders as of March 20, 2000.
Investors should treat this document as a partial amendment. The full original 10-K, including financial statements and MD&A, is needed before drawing conclusions about the company's operating results or the causes of the 1999 share price decline.
02—Key points
Key Highlights
- Stock price fell sharply in 1999: high of $41 in Q1 versus low of $22 7/8 in Q4, and the year-end close of $24 1/16 was about 37.5% below the Q4 1998 close of $38 1/2.
- Largest drop occurred in Q3 1999, when the stock fell from roughly $35 to a low of $24 13/16.
- Quarterly dividend increased to $0.15 per share in 1999 from $0.135 in 1998, an annual increase from $0.54 to $0.60 (about 11%).
- As of January 31, 2000, 776,114,418 common shares were outstanding; non-affiliate shares were valued at about $15.68 billion based on that date's NYSE closing prices (implying roughly $23.19 per share).
- Approximately 179,523 record holders of common stock as of March 20, 2000.
- Common stock is listed on the New York Stock Exchange and Chicago Stock Exchange; the 7.95% Cumulative Quarterly Income Preferred Securities and 7.125% Senior Quarterly Interest Bonds are listed on the NYSE.
- This excerpt is a partial amendment (cover page and Item 5 only) and contains no financial statements or operating results.
03—Questions
Frequently Asked Questions
Why did Allstate's stock decline so much in 1999?
The provided excerpt does not explain the cause. It only shows that the share price fell from a Q1 1999 high of $41 to a Q4 low of $22 7/8, with the steepest drop in Q3. The full 10-K, particularly the MD&A and financial statements, would be needed to identify the drivers.
Did Allstate maintain its dividend despite the share price decline?
Yes. The company declared $0.15 per share in each quarter of 1999, totaling $0.60 for the year. This was higher than the $0.135 quarterly rate paid in 1998, so the dividend was increased during a period of falling share prices.
How many shareholders and shares does Allstate have?
As of March 20, 2000, there were 179,523 record holders of common stock. As of January 31, 2000, there were 776,114,418 common shares outstanding.
Why was this filing amended, and is the document complete?
The filing is labeled Amendment No. 1 to the 10-K but the provided text contains only the cover page and Item 5. The reason for the amendment is not stated in the excerpt. Because the financial statements and other items are absent here, this text should not be used as a complete annual report; the full filing should be reviewed.
04—Continue