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.
A provision affecting 529 plan accounts was stripped from the bill before the vote.
The purchase will further strengthen Broadridge’s Canadian wealth management business.
Meanwhile, four UBS advisors have gone independent with Dynasty Financial Partners, and a wirehouse family team joins LPL Financial.
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