TD Bank Expects C$156 Million in 4Q Reported Profit Equity of Schwab Investment
17 Outubro 2023 - 8:27AM
Dow Jones News
By Dean Seal
Toronto-Dominion Bank expects Charles Schwab's quarterly
earnings to translate into about 156 million Canadian dollars, or
$114.4 million, of reported equity in net income of its investment
in Schwab for the bank's fiscal fourth quarter.
The Canadian financial institution has roughly a 13.5% stake in
Schwab through Schwab's acquisition of TD Ameritrade.
The expected after-tax adjusted equity in net income of the
investment in Schwab will be about C$234 million, excluding
acquisition-related charges of about C$13 million, restructuring
charges of about C$35 million and amortization of acquired
intangibles of about C$30 million, TD Bank said.
TD Bank is scheduled to release its fourth-quarter financial
results on Nov. 30.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 17, 2023 07:12 ET (11:12 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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