The Progressive Corporation announced unaudited earnings results for the month, fourth quarter and full year ended December 2016. For the month, the company reported net premiums written of $1,609.0 million against $1,392.4 million a year ago. Net premiums earned were $1,825.5 million against $1,604.0 million a year ago. Net income available to company was $161.9 million or $0.28 per share against $143.7 million or $0.24 per share a year ago. Total revenues were $1,882.9 million. Income before income taxes was $212.2 million.

For the fourth quarter, the company reported net premiums written of $5,551.5 million against $4,838.5 million a year ago. Net premiums earned were $5,871.4 million against $5,166.4 million a year ago. Net income available to company was $383.2 million or $0.66 per share against $330.4 million or $0.56 per share a year ago.

For the year, the company reported net premiums written of $23,353.5 million against $20,564.0 million a year ago. Net premiums earned were $22,474.0 million against $19,899.1 million a year ago. Net income attributable to the company was $1,031.0 million or $1.76 per diluted share against $1,267.6 million or $2.15 per diluted share a year ago. Total revenues were $23,441.4 million against $20,853.8 million a year ago. Income before income taxes was $1,470.7 million against $1,911.6 million a year ago. Net income was $1,057.2 million compared to $1,300.5 million a year ago. Income before income taxes was $1,470.7 million compared to $1,911.6 million a year ago.

On December 2, 2016, the Board of Directors declared an annual variable dividend to be paid on February 10, 2017, to shareholders of record at the close of business on February 3, 2017 (ex-dividend date of February 1, 2017). The amount of the annual variable dividend is $0.6808 per common share, or an estimated $395.4 million in the aggregate, and is reflected in 2016 financial statements.