The Charles Schwab Family of Funds - Schwab Municipal Money Fund - SWTXX STOCK NEWS

The Charles Schwab Corporation reported a record net income of $2.0 billion for Q3 2022, up 32% from the previous year. Revenues increased 20% year-over-year to $5.5 billion, while diluted earnings per share rose to $0.99 GAAP, a 34% increase. Core net new assets reached $115 billion, marking a 7% annualized growth rate, despite total client assets falling to $6.6 trillion, down 13% from the previous year. The company also announced a 10% dividend increase and a $15 billion stock repurchase authorization, indicating strong financial health.

Schwab Asset Management has become the first large asset manager to pilot a new proxy polling solution developed by Broadridge Financial Solutions. This innovative tool will allow Schwab to gauge shareholder preferences on key proxy issues related to long-term value, corporate governance, and ESG matters. Starting tomorrow, shareholders of select Schwab funds will receive the poll via email or postcard. The insights gathered will inform Schwab's proxy voting approach and policies, emphasizing their commitment to maximizing shareholder value.

The Charles Schwab Corporation has scheduled a Fall Business Update for institutional investors on October 27, from 10:00 a.m. - 11:00 a.m. PT. This live public webcast will focus on recent developments and the management's strategic direction, featuring CEO Walt Bettinger, President Rick Wurster, and CFO Peter Crawford. As of August 31, 2022, Schwab boasts 34 million active brokerage accounts, 1.7 million banking accounts, and approximately $7.13 trillion in client assets.

Schwab Advisor Services has expanded its institutional no transaction fee (INTF) mutual fund offering, now including over 800 funds from 15 leading asset managers. The expansion aims to enhance independent registered investment advisors' ability to customize client portfolios. This offering includes funds with lower net expense ratios and a higher number of funds rated 4 or 5 by Morningstar. This new selection is available to advisors working with both Schwab and TD Ameritrade Institutional.

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.

The Charles Schwab Corporation announced the redemption of all 400,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, effective November 1, 2022, at a price of $1,000 per share. The redemption will not include a regular quarterly dividend, which if declared, will be paid separately to holders of record on the same date. The shares will be redeemed through the Depository Trust Company, managed by Equiniti Trust Company.

As of August 31, 2022, Schwab reported $7.13 trillion in client assets and 34 million active brokerage accounts.

Schwab Stock Plan Services achieved the highest Net Promoter Score for loyalty in the 2022 Equity Compensation Administration Benchmarking Study by Group Five. This study included responses from 586 U.S. public companies. Schwab also ranked second for overall satisfaction and value in the industry, earning top ratings in categories such as ease of use and fee satisfaction. Amy Reback, Head of Schwab Stock Plan Services, emphasized the importance of equity compensation in attracting talent.

The Charles Schwab Corporation reported strong performance in its August 2022 Monthly Activity Report, with core net new assets of $43.3 billion and total client assets of $7.13 trillion. New accounts increased by 332,000, and daily average trades were 5.6 million. CFO Peter Crawford highlighted anticipated revenue growth of 18%-19% year-over-year for Q3, driven by net interest margin improvements. The company has adjusted its Tier 1 Leverage Ratio target to 6.50%-6.75%, reflecting a robust balance sheet and effective capital planning.