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U.S. Bancorp Declares 6.5 Percent Increase in Quarterly Common Stock Dividend

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 17, 2014-- The Board of Directors of U.S. Bancorp (NYSE:USB) has approved a 6.5 percent increase in the dividend rate on U.S. Bancorp common stock to $0.98 on an annualized basis, or $0.245 on a quarterly basis, payable July 15, 2014, to shareholders of record at the close of business on June 30, 2014.

In March, U.S. Bancorp announced that the Federal Reserve did not object to the Company’s capital distribution plan covering the four fiscal quarters ending March 31, 2015, including today’s 6.5 percent dividend increase and the previously announced $2.3 billion share repurchase plan.

The Board of Directors has also declared the following:

  • A regular quarterly dividend of $884.722 per share (equivalent to $8.84722 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 15, 2014, to stockholders of record at the close of business on June 30, 2014.
  • A regular quarterly dividend of $221.18 per share (equivalent to $0.22118 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 15, 2014, to stockholders of record at the close of business on June 30, 2014.
  • 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 July 15, 2014, to stockholders of record at the close of business on June 30, 2014.
  • 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 July 15, 2014, to stockholders of record at the close of business on June 30, 2014.
  • 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 July 15, 2014, to stockholders of record at the close of business on June 30, 2014.

U.S. Bancorp, with $371 billion in assets as of March 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,083 banking offices in 25 states and 4,878 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 usbank.com.

Source: U.S. Bancorp

U.S. Bancorp
Investor Relations:
Sean O'Connor, 612-303-0778
or
Public Relations:
Teri Charest, 612-303-0732

"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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