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Progressive Corp. (PGR) Determines Annual Dividend Formula

December 19, 2014 3:11 PM EST

Progressive Corp. (NYSE: PGR) announced that its Board of Directors declared an annual dividend to be paid on February 13, 2015, to shareholders of record at the close of business on February 4, 2015 (ex-dividend date of February 2, 2015). The amount of the dividend will be determined based on the Company's 2014 financial results and the following formula:

Dividend Amount Per Share = (Annual After-Tax Underwriting Income * 33 1/3% Target) / Common Shares Outstanding on 12/31/14



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