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

March 14 (Bloomberg) -- 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.

Link to Statement:{NSN MJO3XO3V7U9T <GO>}

Link to Company News:{USB US <Equity> CN <GO>}

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

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