The Progressive Corporation PGR today announced that its Board of Directors
declared an annual dividend to be paid on February 1, 2013, to shareholders of
record at the close of business on January 25, 2013 (ex-dividend date of
January 23, 2013). The amount of the dividend will be determined based on the
Company's 2012 financial results and the formula discussed below, and
announced in the Company's year-end earnings release, which is currently
scheduled for January 18, 2013.
The dividend amount will be calculated using the Company's operating results
for the full year of 2012, as follows:
After-Tax 33 1/3% Gainshare
Dividend = Underwriting X Target X Factor
Amount Per Income
Share
Common Shares Outstanding on 12/31/12
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