U.S. Bancorp announces quarterly dividends

Rhea-AI Summary

U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.42 per common share, payable on January 15, 2021, for stockholders of record by December 31, 2020. The annualized dividend stands at $1.68 per common share. Additionally, dividends were declared for various series of non-cumulative perpetual preferred stock, with payments ranging from $203.13 to $894.44 per share, also payable on January 15, 2021. This signifies a commitment to shareholder returns amid strong asset management, with U.S. Bancorp managing over $540 billion in assets.

Positive

• Quarterly dividend declared at $0.42 per common share, affirming shareholder value.
• Annual dividend rate of $1.68 per share indicates stability in returns.
• Strong asset management with over $540 billion in assets as of September 30, 2020.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.42 per common share, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020. At this quarterly dividend rate, the annual dividend is equivalent to $1.68 per common share.

The Board of Directors also declared the following:

• A regular quarterly dividend of $894.444 per share (equivalent to $8.94444 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• A regular quarterly dividend of $223.61 per share (equivalent to $0.22361 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• 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 January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• 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 January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• A regular quarterly dividend of $343.75 per share (equivalent to $0.34375 per depositary share) on the Series K Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• A regular semi-annual dividend of $640.625 per share (equivalent to $25.625 per depositary share) on the Series I Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

• A regular quarterly dividend of $203.13 per share (equivalent $0.20313 per depositary share) on the Series L Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 15, 2021, to stockholders of record at the close of business on December 31, 2020.

About U.S. Bancorp

U.S. Bancorp, with more than 70,000 employees and $540 billion in assets as of September 30, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank one of the 2020 World’s Most Ethical Companies. Visit U.S. Bank at www.usbank.com or follow on social media to stay up to date with company news.