Schwab Declares 10% Increase in Quarterly Dividend, Authorizes Additional Stock Repurchase
29 April 2005 - 8:12AM
PR Newswire (US)
Schwab Declares 10% Increase in Quarterly Dividend, Authorizes
Additional Stock Repurchase SAN FRANCISCO, April 28
/PRNewswire-FirstCall/ -- The Board of Directors of The Charles
Schwab Corporation at its meeting today declared a 10% increase to
the quarterly dividend on the company's common stock to $0.022 a
share. The dividend is payable May 23, 2005 to stockholders of
record May 9, 2005. Separately, the Board today authorized
repurchases of the Company's common stock totaling up to $300
million. The shares may be repurchased through open market or
privately negotiated transactions based on prevailing market
conditions. As of March 31, 2005, the Company had 1.32 billion
weighted average common and common equivalent shares outstanding.
The Board's action follows the completion of the repurchase
authorization granted on December 9, 2004. Under that
authorization, the Company repurchased approximately 27 million
shares for $300 million by the end of first quarter of 2005. The
Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its
operating subsidiaries, provides securities brokerage and financial
services to individual investors and the independent investment
advisors who work with them. With over 7 million individual
investor accounts and more than $1 trillion in client assets, The
Charles Schwab Corporation is one of the nation's largest financial
services firms. Schwab provides a complete range of securities
brokerage services and products, including an extensive marketplace
of mutual funds; financial planning and investment advice;
retirement plans; banking products and services; and referrals to a
select group of independent fee-based investment advisors. Schwab
is also the leading provider of custodial, operational and trading
support for independent fee-based investment advisors. The
corporation's operating subsidiaries include: Charles Schwab &
Co., Inc. (member SIPC), U.S. Trust Corporation (member FDIC),
CyberTrader(R), Inc. (member SIPC), and Charles Schwab Bank (member
FDIC). These companies' Web sites can be reached at
http://www.schwab.com/, http://www.ustrust.com/,
http://www.cybertrader.com/, and http://www.schwabbank.com/,
respectively. DATASOURCE: Charles Schwab CONTACT: media, Glen
Mathison, +1-415-636-5448, or investors/analysts, Rich Fowler,
+1-415-636-9869, both of Charles Schwab Web site:
http://www.schwab.com/
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