Progressive Announces Dividend Information

Rhea-AI Summary

The Progressive Corporation (NYSE:PGR) declared a $0.10 per share dividend, payable on October 15, 2020, to shareholders of record by October 7, 2020. The ex-dividend date is October 6, 2020. Additionally, a dividend of $26.875 per Series B Fixed-to-Floating Rate Preferred Share was also announced, totaling $13.4 million, with payment on September 15, 2020, to Series B shareholders recorded by August 31, 2020.

Positive

• Dividend of $0.10 per common share reflects strong shareholder return strategy.
• Approval of Series B dividend indicates financial stability and commitment to preferred shareholders.

Negative

• None.

MAYFIELD VILLAGE, OHIO, Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of The Progressive Corporation (NYSE:PGR) today declared a $0.10 per common share dividend, payable October 15, 2020, to shareholders of record at the close of business on October 7, 2020 (ex-dividend date of October 6, 2020).

In addition, the Board declared a dividend on our outstanding Series B Fixed-to-Floating Rate Cumulative Perpetual Serial Preferred Shares in the amount of $26.875 per Series B Share, or $13.4 million in the aggregate. The dividend, which is based on the annual rate of 5.375% of the stated amount of $1,000 per Series B Share, will be paid on September 15, 2020, to shareholders of record at the close of business on August 31, 2020.

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 common shares?

The dividend declared is $0.10 per common share.

When is the payment date for the common share dividend?

The payment date for the common share dividend is October 15, 2020.

What is the total amount of the Series B Preferred Share dividend?

The total amount of the Series B Preferred Share dividend is $13.4 million.

When is the payment date for the Series B Preferred Share dividend?

The payment date for the Series B Preferred Share dividend is September 15, 2020.