U.S. Bancorp announces quarterly dividends

The Board of Directors of U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.42 per common share, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021. At this quarterly dividend rate, the annual dividend is equivalent to $1.68 per common share.

The Board of Directors also declared the following:

• A regular quarterly dividend of $875.000 per share (equivalent to $8.750000 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $218.750 per share (equivalent to $0.218750 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $406.250 per share (equivalent to $0.406250 per depositary share) on the Series F Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $232.953 per share (equivalent to $9.318120 per depositary share) on the Series I Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular semi-annual dividend of $662.500 per share (equivalent to $26.500000 per depositary share) on the Series J Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $343.750 per share (equivalent to $0.343750 per depositary share) on the Series K Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $234.375 per share (equivalent $0.234375 per depositary share) on the Series L Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

• A regular quarterly dividend of $202.778 per share (equivalent $0.202778 per depositary share) on the Series M Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2021, to stockholders of record at the close of business on March 31, 2021.

About U.S. Bancorp

U.S. Bancorp, with nearly 70,000 employees and $554 billion in assets as of December 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with digital tools that allow customers to bank when, where and how they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial, corporate, and investment customers across the country and around the world as a trusted and responsible financial partner. This commitment continues to earn a spot on the Ethisphere Institute’s World’s Most Ethical Companies list and puts U.S. Bank in the top 5% of global companies assessed on the CDP A List for climate change action. Visit usbank.com for more.

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Investor contact: Jennifer Thompson, U.S. Bancorp Investor Relations [e-mail], 612.303.0778, @usbank_news

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications [e-mail], 612.422.1423, @usbank_news