When will I receive the common stock dividend?

The common stock dividend of $0.10 per share is payable on October 13, 2023, to shareholders who own the stock at the close of business on October 5, 2023.

What is the basis for the Series B Preferred Share dividend calculation?

The Series B Preferred Share dividend is calculated based on an annual rate of 8.09100%, which is the sum of the 3-Month LIBOR as of June 13, 2023, and a spread of 2.539%, applied to the stated amount of $1,000 per share.

Are there any new financial results or significant business updates in this filing?

No, this 8-K filing is primarily a Regulation FD disclosure concerning the declaration of dividends. It does not contain new financial statements or detailed business operational updates.

PGR 8-K: Regulation FD

Summary

Progressive Corporation (PGR) filed an 8-K on August 8, 2023, disclosing two key corporate actions initiated by its Board of Directors on August 3, 2023. The primary information relevant to investors concerns the declaration of the company's quarterly common share dividend and a dividend on its Series B Preferred Shares. These disclosures provide clarity on the distribution of profits to shareholders and preferred stockholders.

Key Highlights

1Quarterly common share dividend declared: $0.10 per share, payable October 13, 2023, to shareholders of record on October 5, 2023.
2Series B Preferred Shares dividend declared: $20.67700 per share, totaling approximately $10.3 million.
3Series B Preferred dividend is based on an annual rate of 8.09100%, tied to 3-Month LIBOR plus a spread.
4Series B Preferred dividend payment date: September 15, 2023, to shareholders of record on September 1, 2023.
5The filing primarily serves as a Regulation FD disclosure, ensuring all investors receive material information simultaneously.

PROGRESSIVE CORP/OH/ 8-K Report, Regulation FD Disclosure (Aug 9, 2023)

Summary

Key Highlights

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