U.S. BANCORP (NYSE:USB) Files An 8-K Other EventsItem 8.01. Other Events.
On June28, 2018, U.S. Bancorp announced that the Board of Governors of the Federal Reserve System did not object to the capital distribution plan included in U.S. Bancorp’s 2018 capital plan submitted as part of its 2018 Comprehensive Capital Analysis and Review. As a result of this non-objection, U.S. Bancorp expects to recommend in July that its board of directors approve an increase in the annual dividend rate on U.S. Bancorp common stock to $1.48, or $0.37 on a quarterly basis, beginning with the third quarter dividend payable in October 2018. U.S. Bancorp also announced that the board of directors has approved a four-quarter authorization to repurchase up to $3.0billion of its outstanding common stock beginning on July1, 2018. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated into this Item 8.01 by reference.
| Item 8.01. | Financial Statements and Exhibits. |
| 99.1 | Press release dated June28, 2018. |
Exhibit Index
| 99.1 | Press release dated June28, 2018. |
US BANCORP DE ExhibitEX-99.1 2 d660843dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Press Release U.S. Bancorp Receives No Objection to Its 2018 Capital Plan MINNEAPOLIS June 28,…To view the full exhibit click here
About U.S. BANCORP (NYSE:USB)
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machines (ATMs) processing, mortgage banking, insurance, brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions. Its lending services include traditional credit products, as well as credit card services, leasing financing and import/export trade, asset-backed lending and agricultural finance. Its depository services include checking accounts, savings accounts and time certificate contracts.