U.S.
Bancorp (USB),
the sixth largest commercial bank in the United States, has increased
its annual dividend in each of the past 36 years. Its current quarterly
dividend of 42.5 cents represents a 5.70% dividend yield.
Like most bank stocks, USB is down, but the current 15 percent decline
(as of the $29.67 close on June 20) from its all-time closing high
of $34.93, is relatively small compared to declines of over 50 percent
for many other bank stocks.
USB could continue to drop in the current bearish climate for financial
stocks, but it has support at $28.
I (RAH) have no positions in
USB.
Related Articles:
Falling Prices Push
Up Dividend Yields
Entry Point
Chapter 4: Ugly Downsides - Avoid the Price Downside
Posted June 22, 2008.
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