US Bancorp

(USB) - Get Report

on Wednesday said it paid $83.3 million to the government in its first quarterly dividend payment connected with the federal bailout.

The Minneapolis-based company, generally seen as one of the healthier banks of the large-cap names, said late Tuesday that it paid a cash dividend of $12.63 a share on the Series E Fixed-Rate Cumulative Perpetual Preferred Stock to the Treasury Department.

The company in November issued 6.599 million shares of preferred stock to the government, as well as a warrant to purchase up to 32.7 million shares of common stock, in exchange for $6.6 billion from Treasury's Troubled Asset Relief Program, or TARP.


JPMorgan Chase

(JPM) - Get Report

, US Bancorp has also been an acquirer of troubled institutions. With the help of the Federal Deposit Insurance Corp., the company purchased in November the deposits and certain assets of both

Downey Financial

, of Newport Beach, Calif., and

PFF Bancorp

, headquartered in Rancho Cucamonga, Calif.

Last week,

US Bancorp

reported a 65% drop in fourth-quarter profit to $330 million, or 15 cents a share. The company set aside an additional $1.27 billion for loan losses, roughly double its net charge-offs for the quarter.

Shares were rising 7.3% to $14.70.