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SCHWAB APPROVES STOCK PURCHASE BY ESOP AND DECLARES REGULAR QUARTERLY DIVIDEND

 SAN FRANCISCO, Jan. 14 /PRNewswire/ -- The board of directors of The Charles Schwab Corp. (NYSE: SCH) today approved the sale of $15 million in authorized, unissued common stock to the Charles Schwab Profit- Sharing and Employee Stock Ownership Plan (ESOP). The ESOP, which currently holds about 9 percent of the company's shares, will acquire the stock based on its closing price on the day prior to the purchase, using a long-term loan from the company.
 The board also declared the company's regular quarterly cash dividend of 6 cents per share of common stock. The dividend is payable Feb. 16, 1993, to stockholders of record Feb. 1, 1993.
 The Charles Schwab Corp. through its principal operating subsidiary, Charles Schwab & Co. Inc., provides discount securities brokerage and related financial services to two million active client accounts with $66 billion in assets through 175 branches nationwide. During 1992, the company had about 39 million weighted average common shares outstanding.
 -0- 1/14/93
 /CONTACT: Hugo Quackenbush or Mark Thompson of Charles Schwab, 415-627-7810,
 (SCH)


CO: Charles Schwab Corp.; Charles Schwab & Co. Inc. ST: California IN: FIN SU: DIV

TM-GT -- SF008 -- 4953 01/14/93 14:23 EST
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Publication:PR Newswire
Date:Jan 14, 1993
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