PORTLAND, Ore.--U.S. Bancorp has declared a dividend of 22 cents per share, 16% more than the previous quarter's.

The dividend is payable July 1 to shareholders of record on June 11. The $20 billion-asset company has increased dividends for 36 consecutive years.

U.S. Bancorp earned $61.5 million in the first quarter, for a 1.24% return on average assets and a 15.83% return on average common equity.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.