Schwab Declares Preferred Stock Dividend

Rhea-AI Summary

The Charles Schwab Corporation (NYSE: SCHW) has declared a dividend of $19.43 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on November 1, 2022, to stockholders of record as of October 17, 2022. The dividend period is from August 1, 2022 to November 1, 2022. As of August 31, 2022, Schwab reported $7.13 trillion in client assets and has 34.0 million active brokerage accounts.

Positive

• Declared a dividend of $19.43 per share for preferred stock.
• Dividend payment date set for November 1, 2022.
• Strong client asset base of $7.13 trillion.
• 34 million active brokerage accounts indicating strong market presence.

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- The Board of Directors of The Charles Schwab Corporation today declared a dividend on the following series of outstanding preferred stock, payable November 1, 2022, to stockholders of record as of the close of business on October 17, 2022:

Preferred Stock Series	Dividend Per Share
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (in floating rate period)	$19.43
Dividend Period: August 1, 2022 – November 1, 2022

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.0 million active brokerage accounts, 2.3 million corporate retirement plan participants, 1.7 million banking accounts, and $7.13 trillion in client assets as of August 31, 2022. 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/20220930005625/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 dividend amount declared by Charles Schwab for preferred stock?

The declared dividend amount is $19.43 per share.

When will the dividend be paid to shareholders of Charles Schwab?

The dividend will be paid on November 1, 2022.

What is the record date for the dividend payment by Charles Schwab?

The record date for the dividend payment is October 17, 2022.

What is the total client asset value for Charles Schwab as of August 31, 2022?

Charles Schwab reported total client assets of $7.13 trillion.

How many active brokerage accounts does Charles Schwab have?

As of now, Charles Schwab has 34.0 million active brokerage accounts.