Charles Schwab (SCHW) will raise its quarterly dividend by 30.8 percent to $0.17 per share in the third quarter of 2019. This follows a total dividend hike of 62.5 percent last year.

The dividend is payable February 28, 2019 to stockholders of record as of the close of business on February 14, 2019. A new annualized dividend rate of 68 cents per share yields 1.4% at a stock price of $47.03.

Chairman Charles Schwab commented, “The Board’s decisions regarding the Share Repurchase Program and common stock dividend increase reflect Schwab’s 2018 performance as well as our confidence in the long-term success of the company. We see these actions as part of an overall evolution of the Schwab story to include both strong business growth and meaningful capital return.”

The Charles Schwab Corporation is financial services provider. The company's products and services include brokerage accounts, corporate retirement plans, banking accounts, and management of client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc., and affiliates offer a complete range of investment services and products including a selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank provides banking and lending services and products.