Charles Schwab Authorizes $15 Billion Stock Repurchase, Increases Dividend to 22 Cents
July 27 2022 - 5:36PM
Dow Jones News
By Denny Jacob
Charles Schwab Corp. said Wednesday that its board approved
authorization to repurchase a total of $15 billion of its common
stock.
The savings and loan holding company said its previous share
purchase program had $1.8 billion of share repurchases remaining.
The company said it had 1.9 billion common shares outstanding for
the quarter ended June 30.
Charles Schwab also increased its quarterly cash dividend by 2
cents to 22 cents a share, a 10% raise. The dividend is payable on
Aug. 26 to shareholders of record as of the close on Aug. 12.
Finance Chief Peter Crawford said a mix of factors including
higher capital levels has created an opportunity to significant
capital return beginning later this year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
July 27, 2022 17:21 ET (21:21 GMT)
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