US Bancorp hopes to raise its dividend as early as the end of the first quarter, pending approval by the Federal Reserve, CEO, Richard Davis told CNBC Wednesday.
Like many other US banks, US Bancorp was forced to cut their dividends after the financial crisis in order to preserve cash. (Click for after-hours quote)
Investors have been hounding the banks to raise their dividends. Bank CEOs, including Jamie Dimon of JP Morgan , have hinted recently that dividends will rise.