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Schwab Hikes Dividend

Schwab raises dividend 67%.

Discount broker

Charles Schwab

(SCHW) - Get Charles Schwab Corporation Report

raised its dividend by 67% to 5 cents a share.

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Earlier this week, the San Francisco-based broker announced that its third-quarter profit rose 29% from the year-ago period. Shares of Schwab closed Thursday down 13 cents to $16.66.