March 31 (Reuters) – 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. (Reporting by Rashmi Ashok in Bengaluru; Editing by Anil D’Silva)
