May 26: The company confirmed it had used its cash reserve to finance the bond repurchase. The transaction had reduced the fund to $871 million. The buyback reduced that reserve to roughly six months of STRC dividend coverage. The company had previously said the plan was to maintain about 24 months of dividend coverage. STRC […]
Charles Schwab is working with Cboe Global Markets to launch a new type of options contract that would allow customers to make yes-or-no wagers on the performance of the S&P 500, marking the brokerage’s first move into prediction markets, according to a Wall Street Journal report. The feature is expected to roll out to Schwab […]