RBNZ partly relaxes ban on bank dividends

Staff reporters
Wed, 31 Mar 2021

Staff reporters
Wed, 31 Mar 2021

Geoff Bascand.

The Reserve Bank said it will allow banks to resume paying dividends but only up to a maximum of 50% of their earnings through to July 1 next year.The prudential regulator banned banks paying dividends in April last year after the onset of the covid-19 pandemic.It said the ban has been successful in supporting financial stability and the provision of credit."The New Zealand economy has rebounded to a stronger position than anticipated at the outset of the covid-19 pandemic and, as such, the complete restriction on dividends is no longer ne...

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