SAN FRANCISCO (AFX) - Charles Schwab Corp., a provider of financial services, Tuesday said its board authorized the repurchase of up to an additional $500 million in stock.
The company recently completed the repurchase of about 18 million shares for $300 million and has about 1.3 billion shares outstanding.
Additionally, the company declared a regular quarterly dividend of 3 cents per share. The dividend is payable Aug. 22, to shareholders of record Aug. 8.
Charles Schwab shares closed on the Nasdaq at $15.11, up 25 cents on the day.
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