Summary
U.S. Bancorp (USB) announced on March 11, 2015, that the Federal Reserve did not object to its 2015 capital distribution plan. This clearance allows the company to proceed with its planned capital actions, which are positive signals for shareholders. Specifically, U.S. Bancorp intends to increase its annual common stock dividend to $1.02 per share, representing a quarterly payment of $0.255, effective from the second quarter of 2015. Additionally, the company's board has authorized a significant share repurchase program of up to $3.022 billion, commencing April 1, 2015, and extending over five quarters.
Key Highlights
- 1Federal Reserve non-objection to U.S. Bancorp's 2015 capital plan.
- 2Planned increase in annual common stock dividend to $1.02 per share ($0.255 quarterly).
- 3Dividend increase expected to begin with the second quarter dividend payable in July 2015.
- 4Board-approved share repurchase authorization of up to $3.022 billion.
- 5Share repurchase program will commence on April 1, 2015, and extend for five quarters.
- 6These actions indicate strong capital management and commitment to returning value to shareholders.