Charles Schwab sets $500M buyback plan |
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Published
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Thu, 25 Jan 2007 01:05
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NEW YORK (AFX) - Charles Schwab Corp. said Wednesday its board of directors approved a 5-cent regular quarterly dividend and the buyback of $500 million in common stock.The dividend is payable Feb. 23 to shareholders of record as of Feb. 9. The company has $87 million left from a previous buyback plan, giving it authority to buyback up to $587 million. There were 1.3 billion shares outstanding as of the fourth quarter.Shares of Charles Schwab rose 7 cents to close at $18.91 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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