Public Company Information:
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has authorized repurchases of up to an additional $500 million of the Company's common stock. Shares may be repurchased through open market or privately negotiated transactions based on prevailing market conditions. As of December 31, 2007, the Company had 1.2 billion weighted average common and common equivalent shares outstanding.
Under an authorization granted by the Board on April 25, 2007, the Company has thus far repurchased 19 million shares for $381 million. Year-to-date, the Company has repurchased 16 million shares for $326 million. Including $119 million remaining under the April 25 authorization, the Company now has authority to repurchase a total of $619 million of its common stock.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.1 million client brokerage accounts, 1.3 million corporate retirement plan participants, 286,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://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 its Schwab Institutional division. The Charles Schwab Bank, (member FDIC) provides banking and mortgage services and products. More information is available at www.schwab.com.
Greg Gable, 415-636-5847 (Media)
Rich Fowler, 415-636-9869 (Investors/Analysts)