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.
Progressive Announces Annual Dividend Information
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