Schwab Declares Preferred Stock Dividend

Rhea-AI Summary

The Charles Schwab Corporation has announced a semi-annual dividend of $35 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on February 1, 2021, to stockholders recorded by the close of business on January 15, 2021. As of October 31, 2020, the company reported 29.0 million active brokerage accounts and $5.9 trillion in client assets.

Positive

• Dividend of $35 per share indicates financial strength.
• Strong client asset base of $5.9 trillion reflects company stability.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a semi-annual dividend on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A in the amount of $35 per share. The dividend is payable February 1, 2021 to stockholders of record at the close of business on January 15, 2021.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 29.0 million active brokerage accounts, 2.1 million corporate retirement plan participants, 1.5 million banking accounts, and $5.9 trillion in client assets as of October 31, 2020. 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, 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 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.