U.S. Bancorp (USB) has announced that its Board of Directors has authorized a new share repurchase program, allowing the company to buy back up to $5 billion of its common stock starting from September 13. The company plans to initiate these repurchases by early 2025.Additionally, the firm has declared a regular quarterly dividend of $0.50 per common share, marking a 2% increase over the previous quarter. This dividend is scheduled for payment on October 15, to shareholders who are on record as of the close of business on September 30.At the current quarterly dividend rate, the annual dividend amounts to $2.00 per common share.U.S. Bancorp disclosed that it will exercise discretion in utilizing this share repurchase program, as it will continuously assess the economic environment while striving to grow capital and adhere to regulatory requirements.This new share repurchase program supersedes the one approved by the Board on December 21, 2020.In pre-market trading on the NYSE, the shares were priced at $45.28, reflecting an increase of 1.18%.The material has been provided by InstaForex Company – www.instaforex.com
- Oracle To Invest More Than $6.5 Bln In Malaysia For AI And Cloud Services - October 2, 2024
- Romania’s Producer Price Index Sees Slight Uptick in August 2024 - October 2, 2024
- Kenya’s GDP Growth Slows to 3.60% in Q2 2024 Amid Economic Headwinds - October 2, 2024
