New Zealand-based TSB Bank Ltd. raised its final dividend for the year ended March 31.

The bank's board declared a dividend of 37.5 New Zealand cents per share, up from a prior-year dividend of 36.7 cents, according to a May 28 annual report.

Together with an interim dividend of 12.5 cents per share, the lender's total dividend for the fiscal year amounted to 50 cents per share, down from NZ$1 per share in the prior-year period.

As of May 29, US$1 was equivalent to NZ$1.54.