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SCHWAB INCREASES DIVIDEND AND DECLARES STOCK SPLIT

 SAN FRANCISCO, March 25 /PRNewswire/ -- The board of directors of The Charles Schwab Corp. (NYSE: SCH) today increased the quarterly cash dividend 25 percent to 7.5 cents per common share from the six-cent rate set a year ago. The increased dividend is payable May 17, 1993, to stockholders of record May 3, 1993.
 In addition, the board today declared a 3-for-2 split of the company's common stock to be effected in the form of a 50-percent stock dividend. The additional shares issued for the stock dividend will be payable June 1, 1993, to stockholders of record May 3 at the rate of one half of a share for every share of stock held. In lieu of issuing fractional shares, the company will pay in cash the fair value of any fractional shares based on the closing stock price on the record date.
 Chairman Charles R. Schwab said, "The dividend increase and 3-for-2 split reflect the company's strong financial position and continued confidence in our long-term growth prospects." The company reported record earnings, net revenues and client asset growth for 1992, and raised the quarterly cash dividend last spring.
 The chairman also reported that, "We're on track during this year's first quarter to top the record earnings achieved during 1992's first quarter." The company expects to report earnings in mid-April.
 The company had 38.3 million shares outstanding as of Feb. 28, 1993. On June 1, after the split is effective, the company will have about 57.5 million shares outstanding.
 -0- 3/25/93
 /CONTACT: Hugo W. Quackenbush, CFA, or Mark C. Thompson of Charles Schwab, 415-627-7810/
 (SCH)


CO: Charles Schwab Corp. ST: California IN: FIN SU: DIV

TM-TB -- SF003 -- 9616 03/25/93 13:04 EST
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Publication:PR Newswire
Date:Mar 25, 1993
Words:288
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