U.S. Bancorp
USBFinancial Services · Stock · quarterly payer
Forward Yield
3.29%
Annual Dividend
$2.08
Payout Ratio
42%
5-Yr Growth
4.0%
Ex-Date
Jun 30, 2026
Frequency
Quarterly
Summary
As of July 2026, U.S. Bancorp (USB) yields 3.29% ($2.08 per share annually), with a blended fair-value estimate of $113.32 — +79% upside, so it screens as undervalued. Dividend safety grade: A (85/100). 15 years of dividend growth.
Is USB a good dividend stock?
YesU.S. Bancorp (USB) pays a quarterly dividend yielding 3.29% ($2.08/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
- 3.29%
- Payout Ratio
- 42%
- Annual Dividend
- $2.08
- 5-Yr Avg Growth
- 4.0%
- Ex-Dividend Date
- Jun 30, 2026
- Years of Growth
- 15
- Frequency
- quarterly
- Beta
- 0.98
- Market Cap
- $98.4B
- P/E Ratio
- 12.6
- 5-Yr Total Return
- 10%
- 52-Week Range
- $43.46 – $64.84
- Dividend Safety
- A · 85/100
- Ever Cut?
- Yes (2009)
Frequently Asked Questions
USB Price — Last 12 Months
Daily close
Price Return
1 Year
+29%
3 Years
+73%
5 Years
+10%
52-Week Range
$43.46 – $64.84
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is USB worth?
Undervaluedlow confidenceOur blended fair-value estimate for U.S. Bancorp is $113.32 per share, versus a market price of $63.14. That implies 79% of upside — a margin of safety of about 44%.
Fair Value
$113.32
Current Price
$63.14
Upside
+79%
Margin of Safety
44%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 0.2% annual free-cash-flow growth. We model 14.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.2% discount rate (CAPM), 14.0% stage-1 growth, 2.5% terminal growth, $5.01 EPS, $2.08 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 30, 2026 | — | $0.5200 | regular |
| Mar 31, 2026 | — | $0.5200 | regular |
| Dec 31, 2025 | — | $0.5200 | regular |
| Sep 30, 2025 | — | $0.5200 | regular |
| Jun 30, 2025 | — | $0.5000 | regular |
| Mar 31, 2025 | — | $0.5000 | regular |
| Dec 31, 2024 | — | $0.5000 | regular |
| Sep 30, 2024 | — | $0.5000 | regular |
| Jun 28, 2024 | — | $0.4900 | regular |
| Mar 27, 2024 | — | $0.4900 | regular |
| Dec 28, 2023 | — | $0.4900 | regular |
| Sep 28, 2023 | — | $0.4800 | regular |
| Jun 29, 2023 | — | $0.4800 | regular |
| Mar 30, 2023 | — | $0.4800 | regular |
Income Calculator
At $2.08 / yr per share
