Progressive Announces Dividend Information and Reports January 2020 Results

MAYFIELD VILLAGE, OHIO, Feb. 19, 2020 (GLOBE NEWSWIRE) -- On February 14, 2020, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a dividend on our common shares and on our Series B Fixed-to-Floating Rate Cumulative Perpetual Serial Preferred Shares. The common share dividend is in the amount of $0.10 per share, payable on April 15, 2020, to shareholders of record on April 7, 2020 (ex-dividend date of April 6, 2020). The $26.875 per Series B Share dividend, or $13.4 million in the aggregate, is based on the annual rate of 5.375% of the stated amount of $1,000 per Series B Share and is payable March 16, 2020, to shareholders of record at the close of business on February 28, 2020.

The Company today reported the following results for January 2020:

					January
(millions, except per share amounts and ratios; unaudited)	2020				2019				Change
Net premiums written	$	3,606.3			$	3,173.2			14	%
Net premiums earned	$	3,579.1			$	3,189.9			12	%
Net income attributable to Progressive	$	307.0			$	556.0			(45	) %
Per share available to common shareholders	$	0.52			$	0.94			(45	) %
Total pretax net realized gains (losses) on securities	$	32.5			$	269.5			(88	) %
Combined ratio		92.1				88.6			3.5 pts.
Average diluted equivalent common shares		586.8				586.4			0	%