MINNEAPOLIS - U.S. Bancorp (NYSE: USB) announced that its Board of Directors has approved a series of regular dividends for different classes of shares. The company declared a quarterly dividend of $0.49 per common share, which is scheduled to be paid on April 15, 2024, to shareholders on record as of March 29, 2024. This rate projects an annual dividend of $1.96 per common share.
In addition to the common stock dividend, the Board also declared quarterly dividends on several series of preferred stock, all payable on the same date of April 15, 2024, to stockholders of record at the close of business on March 29, 2024.
The dividends per share for the Series A, B, K, L, M, N, and O preferred stocks vary, with the Series A dividend being the highest at $1,667.221 per share (equivalent to $16.672210 per depositary share).
Furthermore, a semi-annual dividend on the Series J Non-Cumulative Perpetual Preferred Stock was announced, amounting to $662.500 per share (equivalent to $26.500000 per depositary share).
U.S. Bancorp, a financial services holding company with over 70,000 employees and $663 billion in assets as of December 31, 2023, operates U.S. Bank National Association. The Minneapolis-headquartered institution offers a wide range of services, including consumer and business banking, commercial and institutional banking, payments, and wealth management.
The company has been acknowledged for its digital innovation, community partnerships, and customer service, earning recognition as one of the 2024 World's Most Ethical Companies and Fortune's most admired superregional bank.
The information provided in this article is based on a press release statement from U.S. Bancorp.
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