Achievements
We are convinced that the best way to maximize shareholder value is to achieve these financial objectives and policies consistently.
Over the years, when we have had adequate capital and believed it to be appropriate, we have repurchased our shares. In addition, as our Financial Policies state, we will repurchase shares to neutralize the dilution from equity-based compensation programs and return any underleveraged capital to investors. Since 1971, we have spent $6.3 billion repurchasing our shares, at an average cost of $5.84 per share.
| |
2008 |
Last 5 Years |
Last 10 Years |
| Compounded Annual Returns: Progressive Shareholders |
(21.9)% |
(4.6)% |
1.7% |
| Compounded Annual Returns: S&P Investors |
(36.5)% |
(2.2)% |
(1.4)% |
Source: Progressive's 2008 Annual Report
Last updated: February 25, 2009
