The Charles Schwab Corporation - SCHW STOCK NEWS

The Charles Schwab Corporation announced its Monthly Activity Report for April 2021, highlighting impressive growth metrics.

Core net new assets attracted from clients reached $37.2 billion, with net new assets (excluding mutual fund clearing) totaling $35.6 billion. Total client assets surged to $7.34 trillion, reflecting a 94% year-over-year increase and a 4% rise from March 2021.

Additionally, average margin balances were reported at $72.9 billion, marking over a 200% increase year-over-year and a 2% month-over-month growth.

The Charles Schwab Corporation has declared a semi-annual dividend of $35 per share on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend is payable on August 2, 2021 to stockholders of record by the close of business on July 16, 2021. With 31.9 million active brokerage accounts and approximately $7.07 trillion in client assets, Schwab is a leading financial services provider offering a wide range of investment and banking solutions.

Charles Schwab and TD Ameritrade are set to engage over 6,000 employees for the Schwab Volunteer Month from May 3-28, 2021. This year marks the first transition to an all-virtual format, allowing for broader participation amidst the pandemic. Originally launched in 2004 as a single-day event, the initiative has evolved significantly, now supporting over 130 nonprofits nationwide. The program underscores Schwab’s commitment to community service, helping enhance financial empowerment and overall well-being through various volunteer projects.

Schwab Asset Management has launched the Schwab International Dividend Equity ETF (SCHY), now trading on the NYSE Arca. This ETF features an operating expense ratio of just 0.14%, positioning it among the most cost-effective options in its class. The ETF aims to track the total return of the Dow Jones International Dividend 100 Index and is the 26th ETF under Schwab's management. This initiative provides investors greater choice in income-focused investment strategies.

The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.18 per common share, payable on May 28, 2021. Additionally, dividends for various preferred stocks were announced, including $15.00 for Series C and $14.88 for Series D, both payable on June 1, 2021. The Series F preferred stock has a semi-annual dividend of $2,500.00 per share, also payable on June 1, 2021. The total client assets managed by Schwab stand at approximately $7.07 trillion.

The Charles Schwab Corporation reported record net income of $1.5 billion for Q1 2021, up from $1.1 billion in Q4 2020 and $795 million in Q1 2020. Net revenues reached $4.7 billion, an 80% increase year-over-year. Trading revenue surged 42% sequentially, supported by heightened market activity and new accounts. Despite a 2% rise in total expenses to $2.8 billion, the pre-tax profit margin improved to 41.6%. The company ended March with $7.07 trillion in client assets, reflecting a 102% increase from the previous year.

The Charles Schwab Corporation announced a Spring Business Update for institutional investors on April 22nd, 2021. The webcast aims to keep the investment community informed about recent developments and strategic focuses. Participants include top executives, such as CEO Walt Bettinger and CFO Peter Crawford. Schwab, a prominent financial services provider, boasts 31.5 million active brokerage accounts and $6.9 trillion in client assets as of February 28, 2021. The event will run from 8:00 a.m. PT to 9:15 a.m. PT.

According to a recent Schwab survey, 15% of current U.S. stock market investors began investing in 2020. These new investors, dubbed Generation Investor (Gen I), show greater optimism than pre-2020 investors. Key findings indicate that 72% of Gen I are optimistic about the market, with 57% anticipating market growth in 2021. Despite facing financial impacts from the COVID-19 pandemic, 54% are focused on building emergency funds. The report highlights a strong desire for educational resources, with 94% seeking tools for research and 82% interested in professional guidance.