Charles Schwab (SCHW) Raises Quarterly Dividend 30.8% to $0.17; New $4B Share Repurchase Plan

Charles Schwab (NYSE: SCHW) declared a quarterly dividend of $0.17 per share, or $0.68 annualized. This is a 30.8% increase from the prior dividend of $0.13. The dividend will be payable on February 28, 2019, to stockholders of record on February 14, 2019, with an ex-dividend date of February 13, 2019. The annual yield on the dividend is 1.5 percent.

The Share Repurchase Program previously had $1 billion of repurchases authorized in October 2018. That authorization was completed by year-end 2018, with a total of 22.3 million shares acquired. Under the new $4 billion authorization, shares may be repurchased through open market or privately negotiated transactions based on prevailing market conditions. As of December 31, 2018 the company had 1.36 billion weighted average common and common equivalent shares outstanding.

Chairman Charles Schwab commented, “The Board’s decisions regarding the Share Repurchase Program and common stock dividend increase reflect Schwab’s 2018 performance as well as our confidence in the long-term success of the company. We see these actions as part of an overall evolution of the Schwab story to include both strong business growth and meaningful capital return.”

For a dividend history and other dividend-related data on Charles Schwab (SCHW) click here.

You May Also Be Interested In

• Atmus Filtration Technologies (ATMU) Raises Quarterly Dividend 9.1% to $0.06; 0.5% Yield
• Exzeo Group authorizes $25 million share repurchase program
• Winnebago Industries (WGO) Raises Quarterly Dividend 2.9% to $0.36; 4.4% Yield