MINNEAPOLIS--(BUSINESS WIRE)--March 18, 2008--The board of
directors of U.S. Bancorp (NYSE: USB) has declared a quarterly
dividend of $0.425 per common share, payable April 15, 2008, to
shareholders of record at the close of business on March 31, 2008. At
this quarterly dividend rate, the annual dividend is equivalent to
$1.70 per common share.
U.S. Bancorp, through its predecessor companies, has increased its
annual common dividend rate in each of the past 36 years and has paid
a dividend for 145 consecutive years. The most recent increase in the
U.S. Bancorp common share dividend was reflected in the dividend paid
on January 15, 2008, when the dividend rate was raised 6.25 percent to
its current rate. Previously the rate had been $1.60 on an annualized
basis, or $0.40 on a quarterly basis.
The board of directors has also declared a regular quarterly
dividend of $306.97 per share (equivalent to $0.30697 per depositary
share) on U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred
Stock, payable April 15, 2008, to stockholders of record at the close
of business on March 31, 2008.
U.S. Bancorp, with $238 billion in assets, is the parent company
of U.S. Bank, the 6th largest commercial bank in the United States.
The company operates 2,518 banking offices and 4,867 ATMs, and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web
CONTACT: U.S. Bancorp
Steve Dale (Media), 612-303-0784
Judith T. Murphy (Analysts), 612-303-0783
SOURCE: U.S. Bancorp