TD Bank's Stake in Charles Schwab to Boost Q4 Earnings by $178 Million

The Canadian bank anticipates a significant increase in net income from its investment in Schwab, following the latter's strong third-quarter performance.

• TD Bank Group expects to report $178 million in net income for Q4 from its investment in Charles Schwab.
• After adjustments for acquisition-related charges and amortization, the adjusted net income contribution is estimated at $207 million.
• Charles Schwab reported a Q3 profit of $1.41 billion, an increase from $1.13 billion the previous year.
• TD Bank had reduced its stake in Schwab from 12.3% to 10.1% after selling 40.5 million shares in August.
• TD Bank is scheduled to release its full Q4 financial results on December 5.

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