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SCHWAB APPROVES DIVIDEND INCREASE

 SCHWAB APPROVES DIVIDEND INCREASE
 SAN FRANCISCO, March 26 /PRNewswire/ -- The board of directors of


The Charles Schwab Corp. (NYSE: SCH) today declared a quarterly cash dividend of six cents per common share, a 50 percent increase over the four-cent rate declared for each of the last two quarters. The increased dividend is payable May 15, 1992 to stockholders of record May 1.
 Chairman Charles R. Schwab said, "The dividend increase reflects the company's strong financial position and continued confidence in our long-term growth prospects." The company reported record earnings, revenues and client asset growth in 1991, raised the quarterly cash dividend twice and completed a 3-for-2 split of the common stock during the year.
 The chairman also reported that, "We're on track to top the record quarterly earnings achieved in 1991's fourth quarter with substantially better results in the first quarter of 1992." The company expects to report earnings by mid-April. Net income for the fourth quarter of 1991 was a record $16.1 million, or $.41 per share, and earnings for the first quarter of 1991 were $10.6 million, or $.27 per share. Full-year 1991 earnings were a record $49.5 million, or $1.27 per share, compared with $16.8 million, or $.41 per share in 1990. Assets in Schwab client accounts increased 55 percent in 1991 over the prior year's level to a record $47.5 billion. The company had 39.1 million weighted average common and common equivalent shares outstanding for the year-ended Dec. 31, 1991.
 -0- 3/26/92
 /CONTACT: Hugo W. Quackenbush or Mark C. Thompson of Charles Schwab Corp., 415-627-7810/
 (SCH) CO: The Charles Schwab Corp. ST: California IN: FIN SU: DIV


DG -- SF003 -- 2045 03/26/92 14:34 EST
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Publication:PR Newswire
Date:Mar 26, 1992
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