The Board of Directors of U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.49 per common share, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023. At this quarterly dividend rate, the annual dividend is equivalent to $1.96 per common share.

The Board of Directors also declared the following:

• A regular quarterly dividend of $1,705.956 per share (equivalent to $17.059560 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• A regular quarterly dividend of $399.656 per share (equivalent to $0.399656 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• 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 January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• A regular quarterly dividend of $234.375 per share (equivalent to $0.234375 per depositary share) on the Series L Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• A regular quarterly dividend of $250.000 per share (equivalent to $0.250000 per depositary share) on the Series M Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• A regular quarterly dividend of $231.250 per share (equivalent to $9.250000 per depositary share) on the Series N Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

• A regular quarterly dividend of $281.250 per share (equivalent to $0.281250 per depositary share) on the Series O Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable January 16, 2024, to stockholders of record at the close of business on December 29, 2023.

About U.S. Bancorp

U.S. Bancorp, with approximately 75,000 employees and $668 billion in assets as of September 30, 2023, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2023 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

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