U.S. BANCORP (NYSE:USB) Files An 8-K Other Events

ME Staff 8-k
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U.S. BANCORP (NYSE:USB) Files An 8-K Other Events

U.S. BANCORP (NYSE:USB) Files An 8-K Other Events
Item 8.01. Other Events.

On June 27, 2019, 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 2019 capital plan submitted as part of its 2019 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 $1.68, or $0.42 on a quarterly basis, beginning with the third quarter dividend payable in October 2019. U.S. Bancorp also announced that its board of directors has approved a four-quarter authorization to repurchase up to $3.0 billion of its outstanding common stock beginning on July 1, 2019. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated into this Item 8.01 by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1    Press release dated June 27, 2019.

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US BANCORP \DE\ Exhibit
EX-99.1 2 d733265dex991.htm EX-99.1 EX-99.1 Exhibit 99.1   News Release U.S. Bancorp Receives No Objection to Its 2019 Capital Plan; Includes a Dividend Increase of 13.5 Percent MINNEAPOLIS,…
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.