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Author: rationalwalk Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 212011  
Subject: Progressive Sept/Q3 Results Date: 10/10/2012 10:55 AM
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Looks like a decent quarter for Progressive.

http://www.sec.gov/Archives/edgar/data/80661/000119312512419...

Progressive is currently trading at over 2x book value. I doubt that a stand-alone GEICO would trade at a lower valuation. Not that I would pay 2x book for Progressive. But it is a company I've had on my watch list for a couple of years having missed a great opportunity to take a position during the depths of the financial crisis.
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Author: rationalwalk Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 194829 of 212011
Subject: Re: Progressive Sept/Q3 Results Date: 10/12/2012 10:52 AM
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$1 special dividend announced today:

http://www.sec.gov/Archives/edgar/data/80661/000119312512421...

The special dividend does not impact the annual variable dividend. Progressive has a very smart dividend policy. I think more companies can and should declare large special dividends prior to the end of 2012 if there is excess capital available.

The next time Progressive gets cheap, I won't be stupid enough to pass on it again.

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