U.S. Bancorp Declares 18 Percent Increase in Quarterly Common Stock Dividend

The Board of Directors of U.S. Bancorp (NYSE: USB) has approved an 18 percent increase in the dividend rate on U.S. Bancorp common stock to $0.92 on an annualized basis, or $0.23 on a quarterly basis, payable July 15, 2013, to shareholders of record at the close of business on June 28, 2013.

In March, U.S. Bancorp announced that the Federal Reserve did not object to the Company’s capital distribution plan covering the four fiscal quarters ending March 31, 2014, including today’s 18 percent dividend increase and the previously announced $2.25 billion share repurchase plan.

The Board of Directors has also declared the following:

• A regular quarterly dividend of $884.722 per share (equivalent to $8.84722 per depositary share) on U.S. Bancorp's Series A Non-Cumulative Perpetual Preferred Stock, payable July 15, 2013, to shareholders of record at the close of business on June 28, 2013.
• A regular quarterly dividend of $221.18 per share (equivalent to $0.22118 per depositary share) on U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock, payable July 15, 2013, to shareholders of record at the close of business on June 28, 2013.
• A regular quarterly dividend of $406.25 per share (equivalent to $0.40625 per depositary share) on U.S. Bancorp’s Series F Non-Cumulative Perpetual Preferred Stock, payable July 15, 2013, to shareholders of record at the close of business on June 28, 2013.
• A regular quarterly dividend of $375.00 per share (equivalent to $0.37500 per depositary share) on U.S. Bancorp’s Series G Non-Cumulative Perpetual Preferred Stock, payable July 15, 2013, to shareholders of record at the close of business on June 28, 2013.
• An initial dividend of $261.08 per share (equivalent to $0.26108 per depositary share) on U.S. Bancorp’s Series H Non-Cumulative Perpetual Preferred Stock, payable July 15, 2013 to shareholders of record at the close of business on June 28, 2013.

U.S. Bancorp, with $355 billion in assets as of March 31, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The Company operates 3,080 banking offices in 25 states and 5,056 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at http://www.usbank.com.