Schwab Declares 6% Increase in Quarterly Common Stock Dividend and Declares Preferred Stock Dividends

SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation at its meeting today declared a 1 cent, or 6%, increase in the quarterly cash dividend to $0.18 per common share. The dividend is payable February 28, 2020 to stockholders of record at the close of business on February 14, 2020.

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

In addition, the Board of Directors also declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, in the amount of $15.00 per share or $0.375 per depositary share, each representing 1/40th interest in a share of Series C Preferred Stock. The dividend is payable March 2, 2020 to stockholders of record at the close of business on February 14, 2020.

The Board of Directors of The Charles Schwab Corporation has also declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series D, in the amount of $14.88 per share or $0.372 per depositary share, each representing 1/40th interest in a share of Series D Preferred Stock. The dividend is payable March 2, 2020 to stockholders of record at the close of business on February 14, 2020.

The Board of Directors of The Charles Schwab Corporation has also declared a regular semi-annual dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series E, in the amount of $2,312.50 per share or $23.125 per depositary share, each representing 1/100th interest in a share of Series E Preferred Stock. The dividend is payable March 2, 2020 to stockholders of record at the close of business on February 14, 2020.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 12.3 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $4.04 trillion in client assets as of December 31, 2019. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org),and 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 banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.