Schwab (CHARLES) Corp. (The) Stock Price, News & Analysis

The Charles Schwab Corporation has declared a dividend of $15.60 per share on its 7.000% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on August 1, 2022. Stockholders of record as of the close of business on July 15, 2022 will receive this dividend. As of April 30, 2022, the company reported approximately $7.28 trillion in client assets, highlighting its significant position in the financial services market.

The Charles Schwab Corporation's Monthly Activity Report for April 2022 revealed significant client cash disbursements, totaling negative $9.2 billion in net new assets. Excluding mutual fund clearing, the negative total stands at $6.5 billion. Total client assets reached $7.28 trillion, marking a 1% decline year-on-year and a 7% decrease from March 2022. Average interest-earning assets increased by 21% year-over-year to $636.7 billion. CFO Peter Crawford noted that the high outflows during tax season reflect past portfolio actions, hinting at potential future rebalancing as interest rates rise.

Charles Schwab has unveiled the Champion’s Prize for the 2022 Charles Schwab Challenge, featuring a restored 1979 Schwab Firebird, commemorating a pivotal year in the firm's tech investments. The PGA TOUR event will take place from May 26-29 in Fort Worth, Texas. Additionally, country singer Jake Owen has recorded a new version of 'East Bound and Down' to celebrate the Firebird. This is Schwab's fourth consecutive year as the title sponsor, highlighting its commitment to innovation and the local golf community.

The Charles Schwab Corporation has declared a quarterly cash dividend of $0.20 per common share, payable on May 27, 2022. Stockholders on record by May 13, 2022 will receive this payment. Additionally, dividends were announced for various series of preferred stock, with payment dates set for June 1, 2022. The dividends include $14.88 for Series D, $980.82 for Series E, and others varying by series. Schwab currently manages approximately $7.86 trillion in client assets, holding over 33.6 million active brokerage accounts.

During Schwab Volunteer Week, a record 9,000 Charles Schwab employees volunteered across nearly 400 nonprofits in response to the pandemic's impact on communities. This year's event highlights financial literacy, with over 500 volunteers educating teens through the Moneywise America program. Schwab Volunteer Week, now in its 19th year, has expanded significantly from its inception in 2004 with just over 1,000 volunteers. The initiative includes 800+ projects, such as facilitating financial workshops and building homes with Habitat for Humanity.

Schwab Advisor Services announces a new integration with Salesforce Financial Services Cloud, enhancing tools for registered investment advisors (RIAs). Scheduled to launch in Q2, the integration will replace an existing app, enabling advisors to initiate digital onboarding, access real-time data on client accounts, and receive alerts from Schwab Advisor Center. This move aims to improve the client experience and operational efficiencies for advisors using the Schwab platform, responding to requests from independent advisors for better tech solutions.

Charles Schwab Foundation and the Associated Press have launched a two-year initiative aimed at enhancing financial literacy among underrepresented groups in the U.S. This project will establish a dedicated team of financial reporters to disseminate personal finance knowledge through various mediums and languages. The goal is to assist younger and lower-income individuals, particularly in racially and ethnically diverse communities. Supported by the foundation's grant, the initiative addresses the urgent need for financial education amid growing wealth inequality.