MINNEAPOLIS, Sep 16, 2008 (BUSINESS WIRE) -- The board of directors of U.S. Bancorp (NYSE: USB) has declared a
quarterly dividend of $0.425 per common share, payable October 15, 2008,
to shareholders of record at the close of business on September 30,
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
$223.61 per share (equivalent to $0.22361 per depositary share) on U.S.
Bancorp's Series B Non-Cumulative Perpetual
Preferred Stock, payable October 15, 2008, to stockholders of record at
the close of business on September 30, 2008.
Additionally, the board of directors declared a regular quarterly
dividend of $503.13 per share (equivalent to $0.50313 per depositary
share) on U.S. Bancorp's Series D
Non-Cumulative Perpetual Preferred Stock, payable October15, 2008, to
stockholders of record at the close of business on September 30, 2008.
U.S. Bancorp, with $247 billion in assets, is the parent company of U.S.
Bank, the 6th largest commercial bank in the United States. The company
operates 2,542 banking offices and 4,895 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 at www.usbank.com.
SOURCE: U.S. Bancorp
Steve Dale (Media), 612-303-0784
Judith T. Murphy (Analysts), 612-303-0783