TD Bank Lays Out Effect of Schwab's 1Q Earnings
By Dave Sebastian
TD Bank Group Friday laid out the effects of Charles Schwab
Corp.'s first-quarter earnings on its fiscal second quarter.
With the acquisition of TD Ameritrade by Schwab, TD received a
roughly 13.5% stake in Schwab. TD said it expects Schwab's
first-quarter earnings to translate into about 223 million Canadian
dollars ($178.3 million) of reported equity in net income of an
investment in Schwab for its fiscal second quarter.
Adjusted equity in net income of an investment in Schwab will be
about C$272 million, TD said. That excludes acquisition-related
charges of about C$15 million after taxes and amortization of
acquired intangibles of about C$34 million after taxes.
TD will release its quarterly results May 27, it said.
Write to Dave Sebastian at email@example.com
(END) Dow Jones Newswires
April 16, 2021 07:01 ET (11:01 GMT)
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