| Line | Company | Text Block | ||
| 1 | GRAINGER W W INC, | On October 28, 2009, the Company’s Board of Directors declared a quarterly dividend of 46 cents per share, payable December 1, 2009, to shareholders of record on November 9, 2009. |
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| 2 | MICROCHIP TECHNOLOGY INC |
A quarterly cash dividend of $0.339 per share was paid on September 3, 2009 in the aggregate amount of $62.1 million. A quarterly cash dividend of $0.34 per share was declared on November 4, 2009 and will be paid on December 2, 2009 to shareholders of record as of November 18, 2009. The Company expects the December 2009 payment of its quarterly cash dividend to be approximately $62.3 million. |
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| 3 | PROGRESSIVE CORP/OH/ | Note 9 Dividends — Progressive maintains a policy of paying an annual variable dividend that, if declared, would be payable shortly after the close of the year. This annual variable dividend is based on a target percentage of after-tax underwriting income multiplied by a companywide performance factor (“Gainshare factor”), subject to the limitations discussed below. The target percentage is determined by our Board of Directors on an annual basis and announced to shareholders and the public. For 2009, the Board determined the target percentage to be 20% of annual after-tax underwriting income. The Gainshare factor can range from zero to two and is determined by comparing our operating performance for the year to certain predetermined profitability and growth objectives approved by the Board. This dividend program is consistent with the variable cash incentive program currently in place for our employees (referred to as our “Gainsharing program”). Although recalibrated every year, the structure of the Gainsharing program generally remains the same. Through the third quarter 2009, the Gainshare factor was .69. Since the final factor will be determined based on our results for the full year, the final factor may vary significantly from the factor at the end of any interim period. Our annual variable dividend program is subject to certain limitations. If the Gainshare factor is zero or our after-tax comprehensive income (see Note 8 - Comprehensive Income (Loss)) is less than after-tax underwriting income, no dividend will be paid. While the declaration of the dividend remains within the Board’s discretion and is subject to the above limitations, the Board is expected to declare the 2009 annual dividend in December 2009 with a record date in January 2010 and payment shortly thereafter. In January 2008, Progressive paid $98.3 million, or $.145 per common share, pursuant to a December 2007 declaration by the Board of Directors under our annual variable dividend policy. However, no dividend was declared for 2008, since we generated a comprehensive loss for the year. For the nine months ended September 30, 2009, our after-tax comprehensive income was $1,330.1 million, which is higher than the $558.7 million of after-tax underwriting income for the same period. |
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| 4 | Southwest Airlines Co. | 12. DIVIDENDS During the three month periods ended March 31 and June 30, 2009, dividends of $.0045 per share were declared on the 740 million shares and 741 million shares of Common Stock then outstanding, respectively. During the three month periods ended March 31 and June 30, 2008, dividends of $.0045 per share were declared on the 731 million shares and 733 million shares of Common Stock then outstanding, respectively. |
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| 5 | Southwest Airlines Co. | 3. DIVIDENDS During the three month periods ended March 31, June 30, and September 30, 2009, dividends of $.0045 per share were declared on the 740 million shares, 741 million shares, and 742 million shares of Common Stock then outstanding, respectively. During the three month periods ended March 31, June 30, and September 30, 2008, dividends of $.0045 per share were declared on the 731 million shares, 733 million shares, and 737 million shares of Common Stock then outstanding, respectively. |