U.S. Bancorp to Buy Back More Stock, Ask Board to Boost Dividend

U.S. Bancorp, the nation’s largest regional lender, said it will increase its repurchase of shares and ask its board to raise its second-quarter dividend 18 percent.

U.S. Bancorp said it will request a dividend of 23 cents and increase its stock buyback plan by $370 million to $2.25 billion, the Minneapolis-based firm said today in a statement.

Following last year’s stress tests, U.S. Bancorp increased its quarterly dividend by 56 percent to 20 cents a share, and the board approved a plan for the company to repurchase as many as 100 million shares, the lender said at the time.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: Steven Crabill at scrabill@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.