The discount brokerage Charles Schwab Corp. declared a 2-for-1 stock split to increase the number of authorized shares of common stock to two billion.

Charles Schwab serves 5.9 million accounts, with $542 billion in customer assets. The company's shares have been boosted by investors' enthusiasm for on-line brokerage businesses.

It is the company's seventh stock split since it went public in 1987. Shares rose $2.8125 Thursday, to $120.8125, on the news.

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