April 26, 2007

Schwab to Repurchase Additional $500 Million in Stock

Second buyback this year for company; dividend also declared

On April 25, Charles Schwab Corp. declared its regular quarterly cash dividend of $0.05 share, but the company also announced that the Schwab board had authorized its second $500 million common stock repurchase plan of the year. Under the first authorization granted January 24, the company has repurchased 22 million shares for $426 million. As of the first quarter of 2007, the company said it had 1.3 billion weighted average common and common equivalent shares outstanding.
Reprints Discuss this story
This is where the comments go.