Minneapolis-based U.S. Bancorp today announced plans to cut its quarterly dividend to 5 cents per share from 42.5 cents, Reuters reported. The company anticipates saving more than $2.6 billion a year as a result of the 88 percent dividend cut. Prior to 2008, U.S. Bancorp had announced dividend increases in 36 consecutive years.

General Growth Properties Inc., the owner of Jordan Creek Town Center, received offers of nearly $400 million for Boston’s Faneuil Hall and New York’s South Street Seaport, according to a person familiar with the matter, Bloomberg reported. General Growth put those two properties, as well as Harborplace & the Gallery in Baltimore, up for sale in December, and has received more than 10 bids. General Growth may sell the properties individually or as a package, with offers of $400 million for all three. Last week, the company said it had $1.18 billion in past-due debt, and warned again it may be forced into bankruptcy.

Concrete Supply Inc. (CSI), a concrete delivery company with facilities in Des Moines and Grimes, announced that it has been purchased by Des Moines-based Rasmussen Group Inc. for an undisclosed amount of money. Under the terms of the deal, CSI will retain its name and continue to operate out of its two local facilities. Employees and members of the CSI management team were offered jobs under the Rasmussen Group ownership. CSI was owned and operated by Gillotti Holdings Inc., which will continue to operate all of its other longstanding construction related businesses in Central Iowa, including Eco-Tech Construction LLC and CSI Precast.

Wells Fargo & Co. said it will pay former Wachovia Corp. executive David Carroll an $8 million retention bonus if he stays with the merged company for one year, the Atlanta Business Chronicle reported. According to a filing with the Securities and Exchange Commission, Carroll will make a salary of at least $700,000 and will be eligible for a bonus of up to $4.2 million as well as a stock option award valued at $5 million. A Wells Fargo spokeswoman said Carroll would be the only Wachovia executive reporting to CEO John Stumpf after the merger.

Aviva Investors North America Inc. announced today that Robert Ranges Jr. will be the new head of business development and Doren Jacobs will be the new chief information officer. Based in New York, Ranges will lead development and implementation of sales, product development, marketing and client services strategies. Jacobs will work with information technology partners across Aviva and Aviva Investors globally and will be responsible for the development and delivery of the overall technology strategy of Aviva Investors North America.

FBL Financial Group Inc. announced that the company’s chief financial officer, Jim Brannen, will present at Raymond James’ 30th annual institutional investors conference in Orlando, Fla., on March 10. Brannen is scheduled to speak at 9:05 a.m. Iowa time about FBL’s financial results and business strategies. Investors may access the webcast and presentation slides on the company’s Web site at www.fblfinancial.com.

An open house in honor of the late Bob Mickle will take place tonight from 4 to 8 p.m. in the large conference room at the Robert W. Mickle Neighborhood Resource Center, 1620 Pleasant St., Des Moines. A prominent community activist, Mickle passed away on Sunday after a long battle with cancer. The Neighborhood Resource Office is collecting photographs, stories, comments and memories prior to tonight’s event for a tribute to Mickle. A memorial page has also been set up at www.ilasting.com/RobertMickle.php. For more information, call (515) 280-1807.

The Wellmark Foundation funded five health-improvement grants totaling $593,558 at its board of directors meeting recently. Among the grants was $150,000 to the Iowa Department of Public Health to create a statewide health data warehouse to provide public health agencies and other organizations with online, interactive access to data for use in identifying health priorities in their communities. Other grants were awarded to communities in South Dakota and western Iowa.