RBNZ eases dividend restrictions
The Reserve Bank of New Zealand has eased dividend restrictions to allow banks to pay up to a maximum of 50% of their earnings to shareholders.
In a statement today (March 31), deputy governor Geoff Bascand said the complete restriction on dividends was “no longer needed”. The RBNZ placed a moratorium on dividends in April 2020.
“The New Zealand economy has rebounded to a stronger position than anticipated at the outset of Covid-19,” he said.
“However, the road ahead remains uncertain… the
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