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.