RBNZ lifts bank dividend restrictions from July 1

Thu, 02 Jun 2022

The Reserve Bank of New Zealand (RBNZ) said it is lifting its covid-era restrictions on banks paying dividends from July 1, subject to no worsening of economic conditions.When covid hit in March 2020, RBNZ announced a complete ban on banks paying dividends because of the acute economic uncertainty the virus created.When the economy proved more resilient than initially expected, it eased the restrictions from March 2021, allowing the banks to pay up to 50% of their earnings in dividends until July 1 this year.“Underlying strength remains i...

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