|
Charles Schwab Corp., 6.00% Dep Shares Non-cumul Perp Pfd Stock Series B
Ticker Symbol: SCHW-B CUSIP: 808513204 Exchange: NYSE
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Charles Schwab Corp., 6.00% Depositary Shares each representing a 1/40th interest in a share of the 6.00% Non-cumulative Perpetual Preferred Stock, Series B, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/1/2017 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.00% per annum ($1.50 per annum or $0.375 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date which will be the 15th calendar days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event (see the prospectus for further information) which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-29 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Goto Parent Company's Record (SCHW)
IPO - 5/31/2012
- 17.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: SCZZL
Changed: 6/11/12
Market Value $ 425 Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 211 Main Street, San Francisco, CA 94105 |
| Main Phone Number |
415-667-7000 |
| Fax Number |
Not Available |
| Investor Relations
Richard G. Fowler
|
415-667-1841
|
| Toll Free Phone Number |
877-456-0777 |
| CEO - Walter W. Bettinger II |
CFO - Joseph R. Martinetto |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|