Consistent with the Company’s policy of not providing projections of its financial results, the Company is not providing an estimate of the 2012 dividend at this time. Investors who choose to calculate or project a dividend amount based on interim results are cautioned, however, that any such estimates may vary from the dividend that may ultimately be paid on the basis of the Company’s full-year results and the final Gainshare Factor.
The Board also decided that the dividend for 2013 will be calculated using the same formula described above, including keeping the target percentage for 2013 at 33 1/3% of after-tax underwriting income. In addition to the limitations included in our dividend policy (discussed above), the 2013 dividend will be subject to the Board’s discretion and a declaration by the Board at the end of 2013 or beginning of 2014.
Celebrating its 75 th anniversary in 2012, The Progressive Group of Insurance Companies makes it easy to understand, buy, and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever, and however it’s most convenient—online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, or in-person with a local agent.Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It’s the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au. Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price ®, the Snapshot Discount ®, and a concierge level of claims service. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at (NYSE:PGR).