MINNEAPOLIS, Jun 15, 2004 (BUSINESS WIRE) -- The board of
directors of U.S. Bancorp (NYSE:USB) has declared a quarterly dividend
of $0.24 per common share, payable July 15, 2004 to shareholders of
record at the close of business on June 30, 2004. At this quarterly
dividend rate, the annual dividend is equivalent to $0.96 per common
U.S. Bancorp, through its predecessor companies, has increased its
annual dividend rate in each of the past 32 years and has paid a
dividend for 141 consecutive years. The most recent increase in the
U.S. Bancorp common share dividend was announced on December 16, 2003,
when the dividend rate was raised 17 percent to its current rate from
$0.82 on an annualized basis, or $0.205 on a quarterly basis.
U.S. Bancorp has also been recognized by Standard & Poor's in the
"S&P 500 Dividend Aristocrats" list which features companies that have
increased their dividend for at least 25 consecutive years. S&P also
notes that only nine other issues have paid a dividend longer than
U.S. Bancorp, which first paid a dividend in 1863. Of the top ten
companies that have paid a dividend the longest, only six of these
companies, including U.S. Bancorp, are headquartered in the United
U. S. Bancorp, with assets of $192 billion, is the 8th largest
financial services holding company in the United States. The company
operates 2,275 banking offices and 4,472 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 is home of the Five Star Service
Guarantee which assures customers of certain key banking benefits and
services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the
web at www.usbank.com.
SOURCE: U.S. Bancorp
Steve Dale (Media), 612-303-0784
H. D. McCullough (Analysts), 612-303-0786
Judy Murphy (Analysts), 612-303-0783
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