TD Bank Lays Out Effects of Schwab's 4Q
January 19 2022 - 6:19AM
Dow Jones News
By Adriano Marchese
Toronto-Dominion Bank said it expects Charles Schwab Corp.'s
fourth-quarter earnings to translate into about 231 million
Canadian dollars, the equivalent of US$184.6 million, of reported
equity in net income of an investment in Schwab for its fiscal
first quarter.
With the acquisition of TD Ameritrade by Schwab, TD received a
roughly 13.5% stake in Schwab.
The Canadian banking and financial services company said
adjusted to exclude acquisition-related charges of about C$13
million after tax, as well as about C$34 million after-tax of
amortization of acquired intangibles, it expects equity in net
income of an investment in Schwab to be about C$278 million.
TD is scheduled to release its first-quarter results on March
3.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 19, 2022 07:04 ET (12:04 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Toronto Dominion Bank (TSX:TD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Toronto Dominion Bank (TSX:TD)
Historical Stock Chart
From Apr 2023 to Apr 2024