US Bancorp (NYSE:USB) 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.