TD Bank Expects C$224 Million 4Q Contribution from Schwab Investment
October 18 2021 - 7:18AM
Dow Jones News
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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