MINNEAPOLIS, Sep 20, 2005 (BUSINESS WIRE) -- The board of directors of U.S. Bancorp (NYSE:USB) has declared a quarterly dividend of $0.30 per common share, payable October 17, 2005 to shareholders of record at the close of business on September 30, 2005. At this quarterly dividend rate, the annual dividend is equivalent to $1.20 per common share.

U.S. Bancorp, through its predecessor companies, has increased its annual dividend rate in each of the past 33 years and has paid a dividend for 142 consecutive years. The most recent increase in the U.S. Bancorp common share dividend was reflected in the dividend paid on January 17, 2005, when the dividend rate was raised 25 percent to its current rate. Previously the rate had been $0.96 on an annualized basis, or $0.24 on a quarterly basis.

U.S. Bancorp, with $204 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 ATMs in 24 states, 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 in which the company pays customers if certain key banking benefits and services are not met. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bancorp

U.S. Bancorp
Steve Dale (Media), 612-303-0784
Judy Murphy (Analysts), 612-303-0783