U.S. Bancorp preferred shares offer 6%+ yields with strong dividend safety and attractive risk/reward.

U.S. Bancorp's preferred shares, especially USB.PR.Q and USB.PR.R, provide yields above 6% and trade at significant discounts to par value, making them appealing for income investors. These shares benefit from strong dividend coverage of around 18.75 times and solid capital adequacy, ensuring dividend stability. The current high interest rate environment favors these preferreds, with USB.PR.H offering a floating rate option that reduces interest rate sensitivity. Analysts rate USB.PR.H, USB.PR.Q, and USB.PR.R as buys for investors seeking income with manageable duration risk.