The Board of Directors of U.S. Bancorp (NYSE:USB) has declared a regular quarterly dividend of $0.54 per common share, payable October 15, 2026, to stockholders of record at the close of business on September 30, 2026. This is a dividend increase of 3.8 percent over the previous quarterly dividend per common share. At this quarterly dividend rate, the annual dividend is equivalent to $2.16 per common share.

The Board of Directors also declared the following:

A regular quarterly dividend of $1,286.602 per share (equivalent to $12.866020 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
A regular quarterly dividend of $294.817 per share (equivalent to $0.294817 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
A regular semi-annual dividend of $662.500 per share (equivalent to $26.500000 per depositary share) on the Series J Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
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 October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
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 October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
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 October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
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 October 15, 2026, to stockholders of record at the close of business on September 30, 2026.
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 October 15, 2026, to stockholders of record at the close of business on September 30, 2026.

About U.S. Bancorp

Headquartered in Minneapolis, U.S. Bancorp is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. Our three major business lines serve 15 million clients globally, and our team of nearly 70,000 people invest our hearts and minds to power human potential every day. Ranked 110th on the Fortune 500, we are deeply respected for our culture and long-term stewardship and admired for our diversified business mix and product capabilities.

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Investor contact: Brian Mauney, U.S. Bancorp Investor Relations

Brian.mauney@usbank.com

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

jeffrey.shelman@usbank.com