U.S. Bancorp posts 20-cent 2Q dividend

Minneapolis-based U.S. Bancorp (NYSE: USB) this week declared a second-quarter dividend of 20 cents per commmon share payable July 16 to shareholders of record at the close of business June 29.

According to a news release from the holding company that operates eight U.S. Bank branches in Springfield, the annual dividend equates to 78 cents per common share factoring in the quarterly rate.

The U.S. Bancorp Board of directors this week also declared:

• a regular quarterly dividend of $884.72 per share for the company's Series A noncumulative perpetual preferred stock;
• a regular quarterly dividend of $221.18 per share for Series B noncumulative perpetual preferred stock;
• a $497.66 per share regular quarterly dividend for Series D noncumulative perpetual preferred stock;
• a regular second-quarter dividend of $406.25 per share on Series F noncumulative perpetual preferred stock; and
• an initial dividend of $354.17 per share on Series G noncumulative perpetual preferred stock.

U.S. Bancorp, which had $341 billion in assets as of March 31, posted first-quarter earnings of $1.34 billion, a 28 percent increase from $1.05 billion in the same quarter of 2011.

The company operates 3,080 branches in 25 states and 5,061 automated teller machines, according to the release.

U.S. Bancorp shares were trading at $31.54 as of 11:45 a.m., compared to a 52-week range of $20.10 to $32.98.[[In-content Ad]]