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Progressive Announces Stock Split, Dividend

Mr. Small said he saw the share repurchase as an indication "both management and the board are working to address the company's significant excess capital position as it heads into a self-described lo

By Steven Tuckey | Updated on April 23, 2006

Progressive Corp.’s board of directors has announced a 4-for-1 stock split, a new stock buyback program and a quarterly dividend.

The buyback announced at Friday’s annual meeting was seen as a positive move by Bear Stearns analyst David Small.

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