TD Expects C$170 Million 3Q Contribution from Schwab Investment
July 19 2021 - 7:19AM
Dow Jones News
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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