Dividend Contenders List: Top 15

12. U.S. Bancorp (NYSE:USB)

Dividend Yield as of November 11: 3.91%

U.S. Bancorp (NYSE:USB) is an American bank holding company that provides a wide range of related services of its consumers. The bank formed a strategic partnership aimed at addressing the banking needs of Edward Jones’ clients with top U.S. Bank deposit and credit card solutions. Through this collaboration, Edward Jones financial advisors will gain the resources and options to offer co-branded U.S. Bank deposit and credit card products to their US clients, starting in late 2025.

U.S. Bancorp (NYSE:USB) reported mixed earnings in the third quarter of 2024. The company’s revenue of $6.83 billion fell by 2.4% on a YoY basis. The revenue also missed analysts’ expectations by $72.3 million. That said, it expects continued positive operating leverage growth in the fourth quarter and into 2025. Net interest income and margins have risen compared to the previous quarter, supported by an improved loan mix, ongoing repricing of fixed-rate earning assets, and careful management of liabilities.

In addition, credit quality outcomes aligned with expectations, and U.S. Bancorp (NYSE:USB) strengthened its capital position, closing the quarter with a CET1 capital ratio of 10.5%. They remain focused on balancing capital growth through earnings accretion with capital distributions and anticipate resuming share buybacks in the near future.

U.S. Bancorp (NYSE:USB) declared a 2.2% hike in its quarterly dividend at $0.50 per share on September 12. This was the company’s 14th consecutive year of dividend growth. In the past five years, it has grown its dividends at an annual average rate of 5.19%. With a dividend yield of 3.9%, USB is one of the best stocks on our dividend contenders list.