U.S. Bancorp announces preliminary SCB of 3.1% and plans 2% dividend increase to $0.50/share

US BANCORP DE

Preliminary SCB of 3.1% from Federal Reserve stress test; effective Oct 1, 2024–Sep 30, 2025.
Plans 2% quarterly dividend increase to $0.50 per share (from $0.49), subject to Board approval in Q4 2024.
Common stock repurchases remain suspended except for stock-based compensation programs; evaluation ongoing.
CET1 ratio at 10.0% as of Mar 31, 2024, well above combined 7.6% requirement (4.5% minimum + 3.1% SCB).
Federal Reserve to finalize SCB by Aug 31, 2024.

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