New Zealand central bank eases restrictions on bank dividends

The Reserve Bank of New Zealand said on Wednesday it was easing dividend restrictions placed on retail banks at the height of the COVID-19 pandemic due to a stronger-than-expected rebound in the economy.

The changes will allow banks to pay up to a maximum of 50% of their earnings in dividends, with the 50% dividend restriction to remain in place until July 1, 2022, the central bank said in a statement.

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