U.S. Bancorp announces quarterly dividends

MINNEAPOLIS--(BUSINESS WIRE)-- The Board of Directors of U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.48 per common share, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023. At this quarterly dividend rate, the annual dividend is equivalent to $1.92 per common share.

The Board of Directors also declared the following:

• A regular quarterly dividend of $1,587.52 per share (equivalent to $15.875200 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $370.338 per share (equivalent to $0.370338 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $343.750 per share (equivalent to $0.343750 per depositary share) on the Series K Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $234.375 per share (equivalent to $0.234375 per depositary share) on the Series L Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $250.000 per share (equivalent to $0.250000 per depositary share) on the Series M Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $231.250 per share (equivalent to $9.250000 per depositary share) on the Series N Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.
• A regular quarterly dividend of $281.250 per share (equivalent to $0.281250 per depositary share) on the Series O Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 17, 2023, to stockholders of record at the close of business on June 30, 2023.

About U.S. Bancorp

U.S. Bancorp, with approximately 77,000 employees and $682 billion in assets as of March 31, 2023, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. Union Bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. U.S. Bancorp has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2023 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

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Investor contact: George Andersen, Director of Investor Relations, U.S. Bancorp Investor Relations

george.andersen@usbank.com, 612.303.3620, @usbank_news

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

jeffrey.shelman@usbank.com, 612.303.9933, @usbank_news

Source: U.S. Bancorp