October 25, 2011 / 2:58 PM / 7 years ago

TD Bank earns C$54 mln from Ameritrade in quarter

 * TD owns 44 pct of broker, according to Reuters data
 * Shares of both companies lower
 * TD Bank reports results on Dec. 1  (In U.S. dollars unless noted)
 TORONTO, Oct 25 (Reuters) - Toronto-Dominion Bank (TD.TO) said on Tuesday its 44-percent stake in U.S. online broker TD Ameritrade (AMTD.O) will contribute C$54 million ($52.9 million) to its fiscal fourth-quarter earnings.
 TD Ameritrade reported a lower-than-expected quarterly profit on Tuesday as the effects of low interest rates and weaker equities offset a surge in client trades. [ID:nN1E79K1LD]
 Shares of Toronto-Dominion, which will report its quarterly results on Dec. 1, were down 0.8 percent at C$74.38 on the Toronto Stock Exchange.
 TD Ameritrade was down 2.6 percent at $15.81 on NASDAQ.
 ($1=$1.02 Canadian)  (Reporting by Cameron French, additional reporting by John McCrank; editing by Peter Galloway)   

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