Benzinga | Jan 20, 2021 06:35AM EST

TD Bank Group Espects Schwab Q4 Earnings To Translate Into $169M Of Reported Equity In Net Income Of An Investment In Schwab

TORONTO, Jan. 20, 2021 /CNW/ - TD Bank Group (the "Bank") announced today that it expects The Charles Schwab Corporation's ("Schwab") fourth quarter earnings to translate into approximately CDN $169 million of reported equity in net income of an investment in Schwab for the Bank's fiscal 2021 first quarter. Excluding acquisition-related charges of approximately CDN $37 million after-tax and amortization of acquired intangibles of approximately CDN $35 million after-tax, adjusted equity in net income of an investment in Schwab will be approximately CDN $241 million.

TD Bank Group will release its first quarter financial results and host an earnings conference call on February 25, 2021. Conference call and audio webcast details will be announced closer to that date.