U.S. Bancorp Raises Dividend 18% (USB)
Financial services company, U.S. Bancorp (USB) reported on Tuesday that its board has approved an 18% increase to its quarterly dividend.
The company has raised its dividend from $0.195 to $0.23 per share, or 92 cents annually. The dividend will be paid on July 15 to shareholders of record on June 28.
USB reported in March that the Federal Reserve approved its capital distribution plan for the four quartering ending March 2014. That included the dividend increase as well as the company’s $2.25 billion share buy back program.
U.S. Bancorp shares were mostly flat during Tuesday morning trading. The stock is up 11% YTD.
The Bottom Line
With the dividend increase, shares of U.S. Bancorp (USB) will have a 2.61% yield, based on Tuesday afternoon’s price of $35.27.
U.S. Bancorp (USB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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