Progressive (PGR) DIvidends Date & History

Key Takeaways

• Progressive Corporation (PGR) offers a trailing dividend yield of approximately 7%, significantly above industry peers.
• Annual dividend of $13.90 per share, comprising quarterly $0.10 payments plus a large variable annual dividend.
• Payout ratio around 72%, covered by earnings per share (EPS) of $19.24 and robust free cash flow of $11.83 billion.
• Dividend growth averaged over 20% annually in recent 5 years, driven by underwriting profitability.
• Recent ex-dividend date: April 2, 2026; payment date: April 10, 2026.
• Low debt levels and strong balance sheet support ongoing dividend sustainability.

Dividend Overview

The Progressive Corporation (PGR), a leading U.S. property and casualty insurer specializing in auto insurance, maintains a flexible dividend policy. It pays regular quarterly dividends of $0.10 per share alongside an annual variable dividend determined by capital position. For 2026, the total reached $13.70 per share, yielding about 7% at recent prices around $194. This high-yield profile stems from exceptional profitability, positioning PGR as an attractive income stock rather than a traditional dividend growth aristocrat. Payments occur quarterly, with the latest on April 10, 2026.

Dividend History and Growth

Progressive initiated its current policy in 2018, committing to quarterly dividends and annual variable payouts. Historical data shows consistency: quarterly payments held steady at $0.10 since inception, while annual dividends fluctuate with performance—$13.50 in early 2026 following $4.80 in 2025. Over five years, dividend per share growth exceeded 23% annually, fueled by premium growth and improved combined ratios (a key insurance profitability metric). No cuts occurred, reflecting disciplined capital management amid volatile insurance cycles.

Dividend Sustainability and Payout Ratio

With a payout ratio of 72%, Progressive's dividend consumes a substantial but manageable portion of earnings (EPS $19.24 TTM). Free cash flow (FCF) of $11.83 billion provides ample coverage, far exceeding dividend obligations. The company's virtually debt-free balance sheet (low debt-to-FCF ratio ~0.4) and high return on equity enhance stability. Insurance operations generate strong cash flows from premiums, supporting payouts even in softer markets. While the variable component introduces variability, consistent profitability—bolstered by analytics-driven underwriting—suggests sustainability.

Dividend Compared to Industry Peers

Progressive's ~7% yield towers over property-casualty peers like Chubb (CB) at 1.2%, Travelers (TRV) at 1.5%, Allstate (ALL) at ~2%, and W.R. Berkley (WRB) at 2.8%. Peers favor steady growth with lower payouts (15-40%), prioritizing reinvestment. PGR's elevated yield reflects superior earnings power from market-leading auto insurance scale, though it carries higher volatility from variable dividends.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. It excels at identifying dividend stocks, income-focused investments, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Explore the AI Screener to uncover high-yield names like PGR in the insurance sector.

Is This Stock Attractive for Dividend Investors?

Progressive Corporation (PGR) appeals to income investors seeking high current yields in the 7% range, far exceeding typical property-casualty offerings. Its robust earnings coverage and FCF generation suit those comfortable with variable annual payouts tied to performance, offering upside in strong underwriting years. Long-term holders may value the blend of growth—via premium expansion and market share gains—and capital returns, including buybacks. However, conservative dividend growth investors might prefer peers like CB or TRV for steadier increases and lower volatility. Insurance sector risks, such as catastrophe losses or rate regulation, warrant monitoring, but PGR's analytics edge and balance sheet strength provide a buffer. Overall, it fits yield-oriented portfolios balancing income with moderate growth potential.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer. Disclaimers and Limitations