Progressive Corp. Declares $2.25 Annual Dividend
December 11 2019 - 9:34AM
Dow Jones News
By Colin Kellaher
Progressive Corp. (PGR) on Wednesday said its board declared an
annual dividend of $2.25, along with a 10-cent regular quarterly
dividend, for a total payout of $2.35.
The Mayfield Village, Ohio, insurance provider said the special
dividend reflects its capital position, existing capital resources,
and expected current and future capital needs.
Progressive last December said it would end its policy of paying
a variable annual dividend and shift to regular 10-cent quarterly
payouts this year, adding that the board would consider declaring
an additional dividend at least annually.
Progressive said the dividends are payable Jan. 15 to
shareholders of record Jan. 8.
The company said its board expects to continue targeting a
10-cent quarterly dividend this year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 11, 2019 09:19 ET (14:19 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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