U.S. Bancorp Declares 9.8 Percent Increase in Quarterly Common Stock Dividends
September 19 2016 - 8:00AM
Business Wire
The Board of Directors of U.S. Bancorp (NYSE: USB) has approved
a 9.8 percent increase in the dividend rate on U.S. Bancorp common
stock to $1.12 on an annualized basis, or $0.28 on a quarterly
basis, payable October 17, 2016, to stockholders of record at the
close of business on September 30, 2016.
In June, U.S. Bancorp announced that the Federal Reserve did not
object to the Company’s capital distribution plan covering the four
fiscal quarters ending June 30, 2017, including today’s 9.8 percent
dividend increase and the previously announced $2.6 billion stock
repurchase plan.
The Board of Directors also declared the following:
- A regular quarterly dividend of
$894.444 per share (equivalent to $8.94444 per depositary share) on
the Series A Non-Cumulative Perpetual Preferred Stock of U.S.
Bancorp, payable October 17, 2016, to stockholders of record at the
close of business on September 30, 2016.
- A regular quarterly dividend of $223.61
per share (equivalent to $0.22361 per depositary share) on the
Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp,
payable October 17, 2016, to stockholders of record at the close of
business on September 30, 2016.
- A regular quarterly dividend of $406.25
per share (equivalent to $0.40625 per depositary share) on the
Series F Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp,
payable October 17, 2016, to stockholders of record at the close of
business on September 30, 2016.
- A regular quarterly dividend of $375.00
per share (equivalent to $0.37500 per depositary share) on the
Series G Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp,
payable October 17, 2016, to stockholders of record at the close of
business on September 30, 2016.
- A regular quarterly dividend of $321.88
per share (equivalent to $0.32188 per depositary share) on the
Series H Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp,
payable October 17, 2016, to stockholders of record at the close of
business on September 30, 2016.
Minneapolis-based U.S. Bancorp (NYSE: USB), with $438 billion in
assets as of June 30, 2016, is the parent company of U.S. Bank
National Association, the fifth largest commercial bank in the
United States. The Company operates 3,122 banking offices in 25
states and 4,923 ATMs, and provides a comprehensive line of
banking, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. Visit U.S. Bancorp on
the web at www.usbank.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005175/en/
U.S. Bank Investor RelationsJennifer Thompson,
612-303-0778jen.thompson@usbank.comorU.S. Bank Corporate
CommunicationsDana Ripley,
612-303-3167dana.ripley@usbank.comTwitter @usbank_news
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