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.
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(END) Dow Jones Newswires
July 19, 2021 07:14 ET (11:14 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.