By Adriano Marchese


Toronto-Dominion Bank expects higher contribution in its third quarter from its investment in Charles Schwab Corp.

The Canadian bank--which has roughly a 13.5% stake in Schwab through the acquisition of TD Ameritrade by Schwab--said it expects around 268 million Canadian dollars, or US$206.4 million, in net income from the investment.

Last year at this time, the company reported C$170 million from its investment in Schwab.

Excluding certain acquisition-related charges and amortization of acquired intangibles, adjusted equity in net income of an investment in Schwab will be approximately C$315 million, TD Bank said.

The company said it will release third-quarter results on Aug. 25.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

07-19-22 0705ET