Progressive Corp. (PGR) Declares $0.10 Quarterly Dividend; Approves 25M Share Buyback

May 15, 2019 8:36 AM EDT

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Progressive Corp. (NYSE: PGR) declared a quarterly dividend of $0.10 per share, or $0.4 annualized.

The dividend will be payable on July 15, 2019, to stockholders of record on July 5, 2019, with an ex-dividend date of July 3, 2019.

The annual yield on the dividend is 0.5 percent.

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.

The Company today reported the following results for April 2019:

(millions, except per share amounts and ratios; unaudited)April April Change
2019 2018
Net premiums written$3,669.8 $3,226.9 14 %
Net premiums earned$3,348.3 $2,882.9 16 %
Net income attributable to Progressive$487.8 $260.6 87 %
Per share available to common shareholders$0.83 $0.44 88 %
Total pretax net realized gains (losses) on securities$131.6 $(6.6) NM
Combined ratio 87.4 89.9 (2.5) pts.
Average diluted equivalent common shares 586.7 585.8 0 %

NM= Not Meaningful

(thousands; unaudited)April April
20192018Change
Policies in Force
Agency - auto6,687.2 6,014.3 11 %
Direct - auto7,427.8 6,506.7 14 %
Total personal auto14,115.0 12,521.0 13 %
Total special lines4,444.2 4,318.5 3 %
Total Personal Lines18,559.2 16,839.5 10 %
Total Commercial Lines721.7 667.4 8 %
Property business2,024.8 1,688.6 20 %

For a dividend history and other dividend-related data on Progressive Corp. (PGR) click here.



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