Progressive Announces Common Share Dividend and Share Repurchase Authorization

Rhea-AI Summary

The Progressive Corporation (NYSE:PGR) declared a quarterly dividend of $0.10 per common share, payable on July 15, 2021, to shareholders of record as of July 7, 2021. The ex-dividend date is July 6, 2021. Additionally, the Board of Directors authorized a new share repurchase program, allowing for the buyback of up to 25 million common shares, which replaces the previous authorization that has been terminated. This program has no expiration date, reflecting a commitment to enhancing shareholder value.

Positive

• Quarterly dividend of $0.10 per share enhances shareholder returns.
• New share repurchase authorization for up to 25 million shares supports stock price stability.

Negative

• None.

MAYFIELD VILLAGE, OHIO, May 10, 2021 (GLOBE NEWSWIRE) -- On May 7, 2021, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a $0.10 per common share quarterly dividend, payable July 15, 2021, to shareholders of record at the close of business on July 7, 2021 (ex-dividend date of July 6, 2021). The Board also renewed the Company's authorization to repurchase up to 25 million of its common shares. This authorization, which does not have an expiration date, replaced the prior authorization, which was terminated.

About Progressive
The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it’s most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers. 

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, Snapshot^®, and HomeQuote Explorer^®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:
Douglas S. Constantine
(440) 910-3563

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http://www.progressive.com

FAQ

What is the dividend amount declared by Progressive Corporation for Q2 2021?

Progressive Corporation declared a quarterly dividend of $0.10 per common share.

When will Progressive's dividend be paid?

The dividend will be payable on July 15, 2021, to shareholders of record on July 7, 2021.

What is the new share repurchase authorization for Progressive Corporation?

The Board authorized the repurchase of up to 25 million of its common shares.

Does the new share repurchase program have an expiration date?

No, the new share repurchase authorization does not have an expiration date.