Progressive: Dividend Insights
Portfolio Pulse from Benzinga Insights
Progressive (NYSE:PGR) announced it will pay a quarterly dividend of 10 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 10 cents lower. Shareholders owning PGR by the end of Tuesday's session will be eligible for the dividend, which will be paid out on October 13, 2023.
September 29, 2023 | 2:45 pm
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Progressive's stock will likely open lower on Wednesday due to the ex-dividend status. However, the dividend payout could attract more investors.
The announcement of a dividend payout usually attracts investors as it indicates a company's profitability. However, the stock will likely open lower on the ex-dividend date as the stock price adjusts to reflect the payout. This could potentially lead to short-term volatility.
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