Schwab Authorizes Additional Stock Repurchase
December 09 2004 - 1:25PM
PR Newswire (US)
Schwab Authorizes Additional Stock Repurchase SAN FRANCISCO, Dec. 9
/PRNewswire-FirstCall/ -- The Board of Directors of The Charles
Schwab Corporation (NYSE:SCH) Nasdaq at its meeting today
authorized repurchases of the Company's common stock totaling up to
$300 million. The shares may be repurchased through open market or
privately negotiated transactions based on prevailing market
conditions. As of September 30, 2004, the Company had 1.35 billion
weighted average common and common equivalent shares outstanding.
The Board's action follows the completion of repurchase
authorizations granted on September 20, 2001 and March 14, 2003.
Under those authorizations, the Company repurchased approximately
34 million shares for $318 million during the second half of 2004.
About Charles Schwab The Charles Schwab Corporation, through its
operating subsidiaries, provides securities brokerage and financial
services to individual investors and the independent investment
advisors who work with them. With over 7 million individual
investor accounts and more than $1 trillion in client assets, The
Charles Schwab Corporation is one of the nation's largest financial
services firms. Schwab provides a complete range of services and
products, including an extensive selection of mutual funds;
financial planning and investment advice; retirement plans; banking
products and services; and referrals to prescreened independent
fee-based investment advisors. Schwab is also the leading provider
of custodial, operational and trading support for independent
fee-based investment advisors. The corporation's operating
subsidiaries include: Charles Schwab & Co., Inc. (member SIPC),
U.S. Trust Corporation (member FDIC), CyberTrader(R), Inc. (member
SIPC), and Charles Schwab Bank (member FDIC). These companies' Web
sites can be reached at http://www.schwab.com/,
http://www.ustrust.com/, http://www.cybertrader.com/, and
http://www.schwabbank.com/, respectively. DATASOURCE: The Charles
Schwab Corporation CONTACT: media, Glen Mathison, +1-415-636-5448,
or investors/analysts, Rich Fowler, +1-415-636-9869, both of
Charles Schwab Web site: http://www.schwab.com/
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