U.S. Bancorp's board declared a quarterly dividend of 42 cents per common share, an increase from the previous payout of 37 cents per common share.
It will be paid Oct. 15 to shareholders of record as of Sept. 30.
The Minneapolis-based company's capital plans received a non-objection from the Federal Reserve under the Comprehensive Capital Analysis and Review. Under its plans, the company will pay a quarterly dividend of 42 cents per share beginning in October and repurchase up to $3.0 billion of its common shares in the four quarters starting July 1.
