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TD Expects C$170 Million 3Q Contribution from Schwab Investment

By Adriano Marchese

 

Toronto-Dominion Bank said Monday it expects about 170 million Canadian dollars ($134.8 million) of reported equity in net income of an investment in its third quarter from its investment in Charles Schwab Corp.

The Canadian commercial bank has a roughly 13.5% stake in Schwab through the acquisition of TD Ameritrade by Schwab.

TD said adjusted equity in net income of its investment in Schwab will be around C$221 million, excluding acquisition-related charges of around C$18 million after-tax and around C$33 million of amortization of acquired intangibles.

TD is expected to release its third quarter results Aug. 26.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

July 19, 2021 07:14 ET (11:14 GMT)

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