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TD Bank Expects C$224 Million 4Q Contribution from Schwab Investment

By Adriano Marchese

 

Toronto-Dominion Bank said Monday that it expects its investment in Charles Schwab Corp. to deliver an income of about 224 million Canadian dollars (US$219.2 million) in its fourth quarter results.

On an adjusted basis, which excludes acquisition-related costs and amortizations of acquired intangibles, the Canadian bank said equity in net income of its investment in Schwab will be about C$271 million.

The contribution will be in TD's fourth quarter results, which are set to release on Dec. 2.

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

 

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

 

(END) Dow Jones Newswires

October 18, 2021 07:03 ET (11:03 GMT)

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