RBNZ pays $510 mln dividend as tumbling kiwi dollar fattens FX gains

Sun, 27 Sep 2015

By Paul McBeth Sept. 28 (BusinessDesk) - The Reserve Bank of New Zealand will pay a $510 million dividend to the government, its biggest since 2009, after the falling kiwi dollar generated a gain from the central bank's holdings of offshore currencies. The Wellington-based central bank reported a profit of $624 million for the 12 months ended June 30, up from a profit of $56 million a year earlier, according to its annual report. Net investment revenue soared almost seven-fold to $681 million in the year, including a $379 million gain fro...

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