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U.S. Bancorp Announces Quarterly Dividends

MINNEAPOLIS, Jun 21, 2011 (BUSINESS WIRE) --

The board of directors of U.S. Bancorp (NYSE: USB) has declared a quarterly dividend of $0.125 per common share, payable July 15, 2011, to shareholders of record at the close of business on June 30, 2011. At this quarterly dividend rate, the annual dividend is equivalent to $0.50 per common share.

The board of directors has also declared a regular quarterly dividend of $884.72 per share (equivalent to $8.84722 per depositary share) on U.S. Bancorp's Series A Non-Cumulative Perpetual Preferred Stock, payable July 15, 2011, to stockholders of record at the close of business on June 30, 2011.

Additionally, the board of directors declared a regular quarterly dividend of $221.18 per share (equivalent to $0.22118 per depositary share) on U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock, payable July 15, 2011, to stockholders of record at the close of business on June 30, 2011.

Finally, the board also declared a regular quarterly dividend of $497.66 per share (equivalent to $0.49766 per depositary share) on U.S. Bancorp's Series D Non-Cumulative Perpetual Preferred Stock, payable July 15, 2011, to stockholders of record at the close of business on June 30, 2011.

U.S. Bancorp, with $311 billion in assets as of March 31, 2011, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,082 banking offices in 25 states and 5,238 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bancorp

U.S. Bancorp
Tom Joyce (Media), 612-303-3167
or
Judith T. Murphy (Analysts), 612-303-0783
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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