SAN FRANCISCO, Jan. 24 /PRNewswire-FirstCall/ -- The Board of Directors
of The Charles Schwab Corporation has declared a regular quarterly cash
dividend of $0.05 per common share. The dividend is payable February 23,
2007 to stockholders of record February 9, 2007.
Separately, the Board today authorized repurchases of up to an
additional $500 million of the Company's common stock. Shares may be
repurchased through open market or privately negotiated transactions based
on prevailing market conditions. For the fourth quarter of 2006, the
Company had 1.3 billion weighted average common and common equivalent
shares outstanding.
Including $87 million remaining under an authorization granted by the
Board on July 25, 2006, the Company now has authority to repurchase a total
of $587 million of its common stock. Under the July 25 authorization, the
Company has thus far repurchased 24.6 million shares for $413 million.
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.7 million client
brokerage accounts, 542,000 corporate retirement plan participants, 147,000
banking accounts, and $1.2 trillion in client assets. Through its operating
subsidiaries, the company provides a full range of securities brokerage,
banking, money management and financial advisory services to individual
investors and independent investment advisors. Its broker-dealer
subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org ),
and affiliates offer a complete range of investment services and products
including an extensive selection of mutual funds; financial planning and
investment advice; retirement plan and equity compensation plan services;
referrals to independent fee-based investment advisors; and custodial,
operational and trading support for independent, fee-based investment
advisors through its Schwab Institutional division. The Charles Schwab
Bank, N.A. (member FDIC) provides banking and mortgage services and
products. CyberTrader(R), Inc. (member SIPC, http://www.sipc.org ) is an
electronic trading technology and brokerage firm providing services to
highly active, online traders. More information is available at
http://www.schwab.com .
SOURCE Charles Schwab
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Related links:
http://www.schwab.com
CONTACT:
Media, Glen Mathison, +1-415-636-5448, or
Investors/Analysts, Rich Fowler, +1-415-636-9869, both of Charles
Schwab
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