Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:

The information you requested is not available at this time, please check back again soon.

More Video

Jul 21, 2020

Retail trading boom gives TD record contribution from Ameritrade

Bruce Campbell discusses TD Bank


Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Toronto-Dominion Bank’s stake in TD Ameritrade Holding Corp. will help cushion the earnings blow from the coronavirus pandemic.

Toronto-Dominion expects its investment in the U.S. brokerage to add US$328 million to its fiscal third-quarter earnings when the Toronto-based bank reports results next month, according to a statement Tuesday. That’s a record quarterly contribution in the 14 years since Toronto-Dominion sold its U.S. brokerage and received part of the combined TD Ameritrade.

Earlier Tuesday, TD Ameritrade, which is being purchased by Charles Schwab Corp., reported third-quarter adjusted earnings that beat the highest analyst estimate thanks to a retail trading boom seen across electronic brokerages during the pandemic. Toronto-Dominion, which owns about 43 per cent of TD Ameritrade, reports the brokerage’s contribution in its U.S. retail division.