US Bancorp Announces 56% Increase In Quarterly Common Stock Dividend And Authorizes New 100 Million Share Repurchase Program

US Bancorp announced that the Board of Directors of U.S. Bancorp has approved a 56% increase in the dividend rate on U.S. Bancorp common stock to $0.78 on an annualized basis, or $0.195 on a quarterly basis. The quarterly common stock dividend of $0.195 per common share is payable on April 16, 2012, to shareholders of record at the close of business on March 30, 2012 Additionally, the board of directors of U.S. Bancorp approved an authorization to repurchase up to 100 million shares of its outstanding common stock. This new authorization replaces the Company’s current share repurchase program. U.S. Bancorp’s common stock shares may be repurchased through March 2013 in the open market or in privately negotiated transactions. The acquired common shares will be held as treasury shares and may be reissued for various corporate purposes.