Progressive Announces 2nd Quarter Dividends and Annual Meeting Results

by C-BW@CLARI.NET (THE PROGRESSIVE VIA BIZWIRE) on 2004-04-16 15:10:07

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)--April 16, 2004--The Board
of Directors of The Progressive Corporation (NYSE:PGR) today declared
a quarterly dividend of $.025 per Common Share payable June 30, 2004,
to shareholders of record at the close of business on June 11, 2004.
At the Annual Meeting of Shareholders today, Progressive's
shareholders re-elected three current directors, each to serve a
three-year term. In addition, the shareholders:

-- approved an amendment to the Company's Code of Regulations to
allow the Board of Directors to authorize the Company to issue
shares without issuing physical certificates;

-- approved The Progressive Corporation 2004 Executive Bonus
Plan; and

-- ratified the appointment of PricewaterhouseCoopers LLP as the
Company's independent auditor for 2004.

The Progressive group of insurance companies ranks third in the
nation for auto insurance based on premiums written, offering its
products by phone at 1-800-PROGRESSIVE, online at progressive.com and
through more than 30,000 independent insurance agencies and insurance
brokers. The Common Shares of The Progressive Corporation, the holding
company, are publicly traded at NYSE:PGR.