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
07-19-21 0714ET