Schwab Declares Preferred Stock Dividend

Rhea-AI Summary

The Charles Schwab Corporation has declared a dividend of $15.60 per share on its 7.000% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on August 1, 2022. Stockholders of record as of the close of business on July 15, 2022 will receive this dividend. As of April 30, 2022, the company reported approximately $7.28 trillion in client assets, highlighting its significant position in the financial services market.

Positive

• Declared a dividend of $15.60 per share, showcasing confidence in financial stability.
• Approximately $7.28 trillion in client assets as of April 30, 2022, indicating strong market presence.

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- The Board of Directors of The Charles Schwab Corporation at its meeting today declared a dividend on the following series of outstanding preferred stock, payable August 1, 2022, to stockholders of record as of the close of business on July 15, 2022:

Preferred Stock Series	Dividend Per Share
7.000% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (in floating rate period) Dividend Period: May 1, 2022 - July 31, 2022	$15.60

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.8 million active brokerage accounts, 2.3 million corporate retirement plan participants, 1.7 million banking accounts, and approximately $7.28 trillion in client assets as of April 30, 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/20220517006238/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 declared dividend for SCHW's preferred stock?

The declared dividend for SCHW's preferred stock is $15.60 per share.

When is the payment date for the SCHW dividend?

The payment date for the SCHW dividend is August 1, 2022.

What is the record date for the SCHW dividend?

The record date for the SCHW dividend is July 15, 2022.

How much in client assets does SCHW report?

SCHW reports approximately $7.28 trillion in client assets as of April 30, 2022.