RBNZ to pay $140 million dividend from FX gains in greener years

Wed, 28 Sep 2016

By Paul McBeth Sept. 29 (BusinessDesk) - The Reserve Bank will pay a $140 million dividend to the government, using up some of the near $1 billion of investment gains built up from prior years. The central bank paid a $510 million dividend to the government in 2015, a year when a falling kiwi dollar generated gains for the RBNZ's holdings of overseas currencies. The Reserve Bank's dividend policy is to distribute excess equity to the Crown, and should generally hold on to unrealised gains unless it believes there's a high probability of...

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