Big banks raise dividends; shares surge

  • Article by: CHRIS SERRES , Star Tribune
  • Updated: March 18, 2011 - 8:28 PM

The dividend increases come two years after banks slashed them; some experts said the payouts were hasty and unwise.

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arronbMar. 18, 1111:24 AM

Yea Baby!! Push the value of my stock up!!!

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rlhklacMar. 18, 1111:34 AM

Ah, and that therefore justifies your 156% pay raise last year to $7.3MM, not including of course the additional $5.5MM in stock and option awards for performance and $7MM retention award. Nice job Richard. You really "earned" that $20MM. I am curious USB employees, what was your average pay increase last year??? 156% ??? Let's hear from you.

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attendMar. 18, 1111:36 AM

No sense in slashing the fee's to the customers. Why not help the little guy

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hockeyfoxMar. 18, 1111:45 AM

dang, I wish they would raise the interest rate on my Savings account balance.

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joejoe2Mar. 18, 1111:47 AM

This is another in a long line of astute moves by Mr. Davis and his executive team. He personifies what too few CEOs have today: Business savvy underpinne by an unwavering adherence to ethical business practices. More should emulate him.

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fish60Mar. 18, 1111:58 AM

This morning I heard on MPR that the FDIC insurance fund is behind in funding by either $6 or $9 Billion. Instead of rewarding shareholders they should be making sure they can pay for the next meltdown.

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pentaxMar. 18, 1112:18 PM

I have to add my $.02 worth after reading some of these comments. First of all I am not rich nor do I work for USB. -I think its great that they raised the dividend -Why do people think anytime a bank charges them a fee its unfair. Get over it. If you dont like it go out and start your own bank and feel free not to charge people anything...loan YOUR money to anyone who wants it and tell them its OK if they dont pay you back or demand you change the terms -Dont like the fact that someone earns more money than you? Boo hoo cry me a river. Get off your butt...Stop watching oprah... get an education... work hard.... start your own business. Then sit back and dont take any money for your efforts. If you dont like what a CEO earns who cares... dont invest in that company

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stj818Mar. 18, 1112:29 PM

It is amazing what all the new fees imposed on the customers can generate! I suggest looking for a new bank!

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mankato58Mar. 18, 1112:34 PM

dang, I wish they would raise the interest rate on my Savings account balance. posted by hockeyfox on Mar. 18, 11 at 11:45 AM |_______ Maybe you should put your savings in the risky stocks rather than the guaranteed account. Remember they cut dividends by 90% first, so even with what looks like a huge increase they are still receiving far less than previously.

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mankato58Mar. 18, 1112:40 PM

It is amazing what all the new fees imposed on the customers can generate! I suggest looking for a new bank! posted by stj818 on Mar. 18, 11 at 12:29 PM | _________ Go ahead and shop around. But remember that banks make their money from lending money that is invested by share holders, money invested in CDs, and money borrowed from the Federal Reserve. Your money in your checking and savings accounts are actually an expensive item for the bank, and it is the fees that pay for handling those transactions for you. A bank can not loan based on savings and checking accounts, because at any given time that money can be withdrawn without notice.

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