Charles Schwab (SCH) -- A tech-stock profile? Message Board

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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?

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To: Richard Forsythe who wrote ()	5/3/2000 8:11:00 PM
From: Ann Corrigan	of 1390

From Bloomberg: Declares 3-for-2 Stock Split, Eighth in 9 Years Charles Schwab Declares 3-for-2 Stock Split, Eighth in 9 Years San Francisco, May 3 (Bloomberg) -- Charles Schwab Corp., the biggest online broker, will split its shares 3-for-2 this month, the company's third split in two years and eighth in nine years. San Francisco-based Schwab said stockholders of record May 12 will receive a 50 percent stock dividend May 30. The company said it will also adjust the 66 million shares it plans to pay for U.S. Trust Corp. to reflect the stock split. Schwab shares are up 11 percent this year and are down 21 percent in the past 12 months on investor concern about increased competition from full-service brokerages. Still, $10,000 of stock bought at the company's September 1987 initial public offering would now be worth $800,000. A year ago, Schwab increased its authorized shares outstanding fourfold to 2 billion. Schwab stock fell 2 5/16, or 5.2 percent, to 42 1/8 in New York trading. The company announced its stock split at its annual meeting today in San Francisco.

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