Progressive Announces Quarterly Common and Preferred Share Dividends

Rhea-AI Summary

The Progressive Corporation (NYSE:PGR) announced a dividend of $0.10 per common share, to be paid on October 14, 2022, for shareholders on record by October 7, 2022. The ex-dividend date is set for October 6, 2022. Additionally, a dividend of $26.875 per Series B Fixed-to-Floating Rate Cumulative Perpetual Serial Preferred Share will be distributed on September 15, 2022, totaling $13.4 million. This payout reflects the company's commitment to returning value to shareholders while maintaining its strong market position in insurance.

Positive

• Declared a common share dividend of $0.10, indicating financial health.
• Announced a preferred share dividend totaling $13.4 million, showcasing robust cash flow.

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• None.

MAYFIELD VILLAGE, OHIO, Aug. 08, 2022 (GLOBE NEWSWIRE) -- On August 5, 2022, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a $0.10 per common share dividend, payable October 14, 2022, to shareholders of record at the close of business on October 7, 2022 (ex-dividend date of October 6, 2022).

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, 2022, to shareholders of record at the close of business on August 31, 2022.

About Progressive
Progressive Insurance^® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. 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 car 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) 395-3707

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