Progressive Corporation announced a regular quarterly dividend of $.69 per share, a 41 percent increase from the prior rate of $.49 per share. The dividend will be paid at the new higher rate on February 13, 2015 to shareholders of record at close of business on February 4, 2015. Progressive is a member of the Top 100 dividend growth candidates.
Analysis of Valuation of Progressive Corporation (Symbol PGR).
Progressive is trading below its average price/book value (P/BV) range. Progressive is trading below its average dividend yield range.
|Price 1/29/15||% Yield||5 Year Div. Growth Rate||BV 2015||P/BV Ratio||10 yr P/BV Low||10 yr P/BV High||5 yr max Yield %||5 yr lowest Yield %|
Progressive Inc. Dividend Yield Chart (Click to enlarge)
Explanation: Dividend growth financial stocks may be valued upon historical relative price/book value and current yield analysis. Dividend financial stocks trading at a low historical price/book value (P/BV) ratio should be viewed more highly to investors due to their depressed valuation versus other higher P/BV ratio stocks. Max P/BV price target is based upon company reaching its highest historical P/BV ratio. Dividend stocks should also be viewed favorably when the current yield is above historical readings for the past 10 years.
Further information on evaluating dividend growth candidates can be found at http://seekingalpha.com/author/timothy-mcintosh/articles