Schwab Declares 14% Increase in Quarterly Common Stock Dividend and Declares Preferred Stock Dividends

Rhea-AI Summary

The Charles Schwab Corporation (NYSE: SCHW) announced a 14% increase in its quarterly cash dividend, raising it to $0.25 per share. This dividend is payable on February 24, 2023, to stockholders on record as of February 10, 2023. Co-Chairman Charles Schwab stated that this increase demonstrates the Board's confidence in the company's capability to grow its earnings and cash flow. Additionally, various dividends were declared for outstanding series of preferred stocks, with payment dates set for March 1, 2023, for eligible stockholders.

Positive

• 14% increase in quarterly cash dividend to $0.25 per share reflects strong earnings growth potential.
• Dividend payment date of February 24, 2023, encourages stockholder confidence.
• Statement from Co-Chairman indicates a robust outlook on earnings and cash flow.

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- The Board of Directors of The Charles Schwab Corporation at its meeting today declared a 3 cent, or 14%, increase in the regular quarterly cash dividend to $0.25 per common share. The dividend is payable February 24, 2023 to stockholders of record as of the close of business on February 10, 2023.

Co-Chairman Charles Schwab commented, “This dividend increase reflects the Board’s confidence in our ability to continue to grow earnings and cash flow as we pursue our ‘Through Clients’ Eyes’ strategy.”

In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable March 1, 2023 to stockholders of record as of the close of business on February 14, 2023:

Preferred Stock Series	Dividend Per Share	Dividend Per Depositary Share
5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: December 1, 2022-February 28, 2023	$14.88	$0.372000
5.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G Dividend Period: December 1, 2022-February 28, 2023	$1,343.75	$13.437500
4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series H Dividend Period: December 1, 2022-February 28, 2023	$1,000.00	$10.000000
4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I Dividend Period: December 1, 2022-February 28, 2023	$1,000.00	$10.000000
4.450% Non-Cumulative Perpetual Preferred Stock, Series J Dividend Period: December 1, 2022-February 28, 2023	$11.13	$0.278250
5.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K Dividend Period: December 1, 2022-February 28, 2023	$1,250.00	$12.500000

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.8 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.7 million banking accounts, and $7.05 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC, https://www.sipc.org), and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto Dominion Bank.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005975/en/

MEDIA:

Mayura Hooper

Charles Schwab

Phone: 415-667-1525

INVESTORS/ANALYSTS:

Jeff Edwards

Charles Schwab

Phone: 415-667-1524

Source: The Charles Schwab Corporation

FAQ

What is the new dividend amount for SCHW?

The new quarterly cash dividend for The Charles Schwab Corporation (SCHW) is $0.25 per share, reflecting a 14% increase.

When is the dividend payment date for SCHW?

The dividend payment date for The Charles Schwab Corporation is February 24, 2023.

Who is eligible for the SCHW dividend?

Stockholders of record as of February 10, 2023, are eligible for the dividend.