U.S. Bancorp (NYSE:USB) to Issue Dividend Increase - $0.54 Per Share

Key Points

• U.S. Bancorp raised its quarterly dividend 3.8% to $0.54 per share, payable October 15 to shareholders of record September 30. The annualized dividend implies a yield of approximately 3.5%.
• The bank has increased its dividend for 14 consecutive years, with a current payout ratio of 43.4%; analysts expect future earnings to comfortably cover the $2.08 annual dividend.
• U.S. Bancorp recently exceeded quarterly earnings expectations, reporting $1.35 in EPS versus the $1.28 consensus, alongside $7.69 billion in revenue compared with estimates of $7.58 billion.

U.S. Bancorp (NYSE:USB - Get Free Report) declared a quarterly dividend on Tuesday, September 8th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.54 per share by the financial services provider on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 3.8% increase from U.S. Bancorp's previous quarterly dividend of $0.52.

U.S. Bancorp has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. U.S. Bancorp has a payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect U.S. Bancorp to earn $5.76 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 36.1%.

U.S. Bancorp Trading Down 1.3%

NYSE:USB opened at $62.52 on Wednesday. The firm has a market capitalization of $97.41 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.13 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $63.16 and a 200 day moving average of $57.93. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. The firm had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.