U.S. Bancorp (USB) Dividend
U.S. Bancorp · Financial Services · Banks - Regional · quarterly payer
As of Nov 5, 2026, U.S. Bancorp (USB) pays a quarterly dividend of $0.54 per share, or $2.16 a year, a 3.54% yield at its $60.22 share price. It pays every quarter, usually in January, April, July and October. It has raised its dividend 15 years in a row and has a dividend safety grade of A.
Forward Yield
3.54%
Annual Dividend
$2.16
Payout Ratio
42%
5-Yr Growth
4.0%
Ex-Date
Sep 30, 2026
Frequency
Quarterly
Key facts about USB's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, U.S. Bancorp (USB) has a forward dividend yield of 3.54%, based on an annual dividend of $2.16 per share and a share price of $60.22.
- As of Nov 5, 2026, USB's dividend safety grade from SmarterDividends is A (86 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, U.S. Bancorp (USB) has raised its dividend for 15 consecutive years as of Nov 5, 2026.
- USB last cut its regular dividend in 2009.
- USB's most recent ex-dividend date was Sep 30, 2026, for a dividend of $0.54 per share.
- As of Nov 5, 2026, USB pays out 42% of its trailing 12-month earnings as dividends (its payout ratio).
- USB's dividend has grown at an average rate of 4.0% a year over the past five years.
- As of Nov 5, 2026, USB's 3.54% yield is 16% below its five-year average yield of 4.19%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for USB is $87.63 per share, 46% above the $60.22 share price, so USB screens as undervalued.
- U.S. Bancorp (USB) pays its dividend quarterly, 4 times a year.
- U.S. Bancorp (USB) has raised its regular dividend 35 times and cut it 1 time across the 151 payments on record since 1989. Its most recent change was a 3.8% increase to $0.540 per share, going ex-dividend on Sep 30, 2026. The last cut went ex-dividend on Mar 27, 2009.
- U.S. Bancorp (USB) has declared its first higher dividend of the year in September in 4 of the last 5 years; its most recent raise, 3.8%, was declared on Sep 8, 2026.
Cite this page
SmarterDividends, "USB Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/USB
Is USB a good dividend stock?
YesU.S. Bancorp (USB) pays a quarterly dividend yielding 3.54% ($2.16/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 15 consecutive years of dividend growth
- Comfortable payout ratio (42%)
- Top-tier dividend safety score
Risks
- Cut its dividend in 2009
Key Data
- Dividend Yield
- 3.54%
- Payout Ratio
- 42%
- Annual Dividend
- $2.16
- 5-Yr Avg Growth
- 4.0%
- Ex-Dividend Date
- Sep 30, 2026
- Years of Growth
- 15
- Frequency
- quarterly
- Beta
- 1.03
- Market Cap
- $93.8B
- P/E Ratio
- 11.7
- 5-Yr Total Return
- 7%
- 52-Week Range
- $45.02 – $66.08
- Dividend Safety
- A · 86/100
- Ever Cut?
- Yes (2009)
USB dividend raises and cuts
U.S. Bancorp (USB) has raised its regular dividend 35 times and cut it 1 time across the 151 payments on record since 1989. Its most recent change was a 3.8% increase to $0.540 per share, going ex-dividend on Sep 30, 2026. The last cut went ex-dividend on Mar 27, 2009.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Sep 30, 2026 | Raise | $0.520 → $0.540 | +3.8% |
| Sep 30, 2025 | Raise | $0.500 → $0.520 | +4.0% |
| Sep 30, 2024 | Raise | $0.490 → $0.500 | +2.0% |
| Dec 28, 2023 | Raise | $0.480 → $0.490 | +2.1% |
| Sep 29, 2022 | Raise | $0.460 → $0.480 | +4.3% |
| Sep 29, 2021 | Raise | $0.420 → $0.460 | +9.5% |
| Sep 27, 2019 | Raise | $0.370 → $0.420 | +13.5% |
| Sep 27, 2018 | Raise | $0.300 → $0.370 | +23.3% |
| Sep 28, 2017 | Raise | $0.280 → $0.300 | +7.1% |
| Sep 28, 2016 | Raise | $0.255 → $0.280 | +9.8% |
| Jun 26, 2015 | Raise | $0.245 → $0.255 | +4.1% |
| Jun 26, 2014 | Raise | $0.230 → $0.245 | +6.5% |
Show all 36 changes since 1989
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jun 26, 2013 | Raise | $0.195 → $0.230 | +17.9% |
| Mar 28, 2012 | Raise | $0.125 → $0.195 | +56.0% |
| Mar 29, 2011 | Raise | $0.0500 → $0.125 | +150.0% |
| Mar 27, 2009 | Cut | $0.425 → $0.0500 | −88.2% |
| Dec 27, 2007 | Raise | $0.400 → $0.425 | +6.2% |
| Dec 27, 2006 | Raise | $0.330 → $0.400 | +21.2% |
| Dec 28, 2005 | Raise | $0.300 → $0.330 | +10.0% |
| Dec 29, 2004 | Raise | $0.240 → $0.300 | +25.0% |
| Dec 29, 2003 | Raise | $0.205 → $0.240 | +17.1% |
| Jun 26, 2003 | Raise | $0.195 → $0.205 | +5.1% |
| Mar 26, 2002 | Raise | $0.188 → $0.195 | +3.7% |
| Mar 28, 2001 | Raise | $0.163 → $0.188 | +15.3% |
| Dec 29, 1999 | Raise | $0.100 → $0.163 | +63.0% |
| Dec 29, 1998 | Raise | $0.0767 → $0.100 | +30.4% |
| Mar 27, 1998 | Raise | $0.0667 → $0.0767 | +15.0% |
| Mar 26, 1997 | Raise | $0.0522 → $0.0667 | +27.7% |
| Mar 27, 1996 | Raise | $0.0444 → $0.0522 | +17.5% |
| Mar 27, 1995 | Raise | $0.0389 → $0.0444 | +14.3% |
| Mar 25, 1994 | Raise | $0.0322 → $0.0389 | +20.7% |
| Mar 25, 1993 | Raise | $0.0289 → $0.0322 | +11.5% |
| Mar 25, 1992 | Raise | $0.0278 → $0.0289 | +4.0% |
| Mar 22, 1991 | Raise | $0.0267 → $0.0278 | +4.2% |
| Mar 26, 1990 | Raise | $0.0244 → $0.0267 | +9.1% |
| Sep 25, 1989 | Raise | $0.0022 → $0.0244 | +1000.1% |
Frequently Asked Questions
Is USB a good dividend stock?
Yes. U.S. Bancorp (USB) pays a quarterly dividend yielding 3.54% ($2.16/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is USB undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, USB's fair value is about $87.63 versus a $60.22 share price — so it looks undervalued (+46% vs. fair value).
Is USB's dividend safe?
USB has a dividend-safety grade of A (86/100), based on its payout coverage, free-cash-flow, 15-year growth streak, a dividend cut in 2009, debt and yield-versus-history.
What is USB's fair value?
Our blended fair-value estimate for USB is about $87.63 per share, roughly 46% above the current $60.22 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is USB a buy, hold, or sell?
We don't issue formal ratings, but on the data USB screens as "yes" and undervalued. U.S. Bancorp (USB) pays a quarterly dividend yielding 3.54% ($2.16/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will USB cut its dividend?
USB earns a dividend-safety grade of A (86/100), and has cut its dividend before (last in 2009). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does USB pay a dividend?
Yes. U.S. Bancorp pays a quarterly dividend of about $2.16 per share annually, a forward yield of roughly 3.54%.
How much dividend does 100 shares of USB pay?
At $2.16 per share a year, 100 shares of USB pay $216.00 a year in dividends before tax, about $54.00 each quarter. Buying them costs about $6,022 at the Nov 5, 2026 price.
What is USB's dividend yield?
As of Nov 5, 2026, USB's forward dividend yield is 3.54%, based on a $2.16 annual dividend and a $60.22 share price.
What is USB's dividend per share?
As of Nov 5, 2026, USB pays $2.16 per share per year, distributed on a quarterly basis.
What is USB's dividend payout ratio?
As of Nov 5, 2026, USB's payout ratio is 42% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has USB grown its dividend?
As of Nov 5, 2026, USB has increased its dividend for 15 consecutive years.
When is the next USB ex-dividend date?
As of Nov 5, 2026, USB's next ex-dividend date hasn't been announced. The most recent was Sep 30, 2026, for $0.54 per share.
USB Price — Last 12 Months
Daily close
Price Return
1 Year
+21%
3 Years
+56%
5 Years
+7%
52-Week Range
$45.02 – $66.08
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is USB worth?
Undervaluedmedium confidenceOur blended fair-value estimate for U.S. Bancorp is $87.63 per share, versus a market price of $60.22. That implies 46% of upside — a margin of safety of about 31%.
Fair Value
$87.63
Current Price
$60.22
Upside
+46%
Margin of Safety
31%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 9.4% discount rate (CAPM), 10.9% growth for five years fading to 2.5% over the next five, $5.14 EPS, $2.16 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
USB Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full USB dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 30, 2026 | Oct 15, 2026 | $0.5400 | regular |
| Jun 30, 2026 | Jul 15, 2026 | $0.5200 | regular |
| Mar 31, 2026 | Apr 15, 2026 | $0.5200 | regular |
| Dec 31, 2025 | Jan 15, 2026 | $0.5200 | regular |
| Sep 30, 2025 | Oct 15, 2025 | $0.5200 | regular |
| Jun 30, 2025 | Jul 15, 2025 | $0.5000 | regular |
| Mar 31, 2025 | Apr 15, 2025 | $0.5000 | regular |
| Dec 31, 2024 | Jan 15, 2025 | $0.5000 | regular |
| Sep 30, 2024 | Oct 15, 2024 | $0.5000 | regular |
| Jun 28, 2024 | Jul 15, 2024 | $0.4900 | regular |
| Mar 27, 2024 | Apr 15, 2024 | $0.4900 | regular |
| Dec 28, 2023 | Jan 16, 2024 | $0.4900 | regular |
| Sep 28, 2023 | Oct 16, 2023 | $0.4800 | regular |
| Jun 29, 2023 | Jul 17, 2023 | $0.4800 | regular |
Income Calculator
At $2.16 / yr per share
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