PGR · 10-Q · 2026Q2 · Full report

Capital Allocation

PROGRESSIVE CORP/OH/ · 2026-08-03 · Importance 38 · Surprise 24 · In source text

Progressive repurchased 5.4 million common shares for $1.1 billion during the first six months of 2026, including open-market purchases and shares withheld for employee equity-award taxes. The company paid $8.0 billion, or $13.60 per share, in January 2026 for the fourth-quarter 2025 common-share dividend. The Board declared $0.10 per share dividends in both the first and second quarters of 2026, with each aggregate payment totaling $58 million. Capital returned through dividends and repurchases partially offset the $5.2 billion of first-half comprehensive income and $1.5 billion of senior notes issued in March 2026.

Key facts

• Increase in total capital was primarily driven by $5.2 billion of comprehensive income earned during the first six months of 2026 and issuance of $1.5 billion of senior notes in Q1 2026. source
• In January 2026 Progressive paid common share dividends declared in Q4 2025 totaling $8.0 billion, or $13.60 per share. source
• Repurchased 5.4 million common shares at a total cost of $1.1 billion during the first six months of 2026. source
• Board declared $0.10 per common share dividend in both the first and second quarters of 2026; each dividend was $58 million and were paid in April 2026 and July 2026. source
• Repurchased 5.4 million common shares during first six months of 2026 both in the open market and to satisfy tax withholding obligations related to equity awards. source

Impact estimates