The Board of Directors of U.S. Bancorp has authorized a share repurchase program for up to $5B of the company’s outstanding common stock beginning September 13, 2024. The company intends to begin repurchasing shares by early 2025. It also declared a regular quarterly dividend of 50c per common share, payable October 15, 2024, to stockholders of record at the close of business on September 30, 2024. This is an increase of 2% over the prior quarter. At this quarterly dividend rate, the annual dividend is equivalent to $2.00 per common share.
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