MINNEAPOLIS--(BUSINESS WIRE)--Dec. 20, 2005--The board of
directors of U.S. Bancorp (NYSE:USB) has approved a 10 percent
increase in the dividend rate on U.S. Bancorp common stock to $1.32 on
an annualized basis, or $0.33 on a quarterly basis. The quarterly
common stock dividend of $0.33 per common share is payable on January
16, 2006 to shareholders of record at the close of business on
December 30, 2005.
Jerry A. Grundhofer, chairman and chief executive officer of U.S.
Bancorp, stated, "This announcement represents 34 consecutive years of
increasing our dividend. Since 1993 our dividend has shown a
compounded annual growth rate of 19.6 percent. We recognize that our
dividend program is an important part of our shareholders' total
return on their investment in U.S. Bancorp. Today's increase in the
dividend and our current share repurchase program are both important
components of our plan to continue our commitment to return at least
80 percent of our earnings to our shareholders."
U.S. Bancorp, since 1863 through its predecessor companies, will
have paid a dividend for 143 consecutive years as of January 16, 2006.
U.S. Bancorp, with $207 billion in assets, is the 6th largest
financial holding company in the United States. The company operates
2,411 banking offices and 4,999 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 www.usbank.com.
CONTACT: U.S. Bancorp
Steve Dale (Media), 612-303-0784
Judith T. Murphy (Analysts), 612-303-0783
SOURCE: U.S. Bancorp