US Bancorp is emerging from the vault with a little more money for its shareholders. The company has lifted its quarterly common stock dividend, declaring a payout of $0.23 per share, to be dispensed on July 15 to shareholders of record as of June 28. That amount is 18% higher than the financial services group's previous distribution of $0.195, which was handed out in April.
US Bancorp is a regular dividend payer. Since April 2009, its disbursement has ranged from $0.05 per share to the present level.
The new dividend annualizes to $0.92 per share. That yields 2.6% at US Bancorp's current stock price of $35.39.
The article US Bancorp Raises Common Stock Dividend 18% originally appeared on Fool.com.Fool contributor Eric Volkman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.