The Progressive Corporation (PGR) to Issue Quarterly Dividend of $0.10 on April 10th

The Progressive Corporation (NYSE:PGR) announced a quarterly dividend on Friday, March 6th. Investors of record on Thursday, April 2nd will be given a dividend of 0.10 per share by the insurance provider on Friday, April 10th. This represents a c) dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd.

Progressive has increased its dividend by an average of 0.1%annually over the last three years. Progressive has a payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Progressive to earn $15.40 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 2.6%.

Progressive Stock Up 1.1%

Shares of NYSE PGR opened at $200.98 on Tuesday. Progressive has a 1 year low of $197.92 and a 1 year high of $289.96. The firm has a 50-day simple moving average of $205.69 and a two-hundred day simple moving average of $218.96. The company has a market cap of $117.57 billion, a P/E ratio of 10.45, a PEG ratio of 5.74 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.