SAN FRANCISCO, April 25 /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
May 25, 2007 to stockholders of record May 11, 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 first quarter of 2007, the Company
had 1.3 billion weighted average common and common equivalent shares
outstanding.
Under an authorization granted by the Board on January 24, 2007, the
Company has thus far repurchased 22 million shares for $426 million.
Including $74 million remaining under the January 24 authorization, the
Company now has authority to repurchase a total of $574 million of its
common stock.
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.8 million client
brokerage accounts, 1.1 million corporate retirement plan participants,
151,000 banking accounts, and $1.3 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, Greg Gable, +1-415-636-5847,
Investors/Analysts, Rich Fowler, +1-415-636-9869, both of Charles
Schwab
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