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Schwab to Repurchase Additional $500 Million in Stock
Second buyback this year for company; dividend also declared
On April 25, Charles Schwab Corp. declared its regular quarterly cash dividend of $0.05 share, but the company also announced that the Schwab board had authorized its second $500 million common stock repurchase plan of the year. Under the first authorization granted January 24, the company has repurchased 22 million shares for $426 million. As of the first quarter of 2007, the company said it had 1.3 billion weighted average common and common equivalent shares outstanding.