Bank of South Carolina Corporation Declares Increased Dividend

Rhea-AI Summary

Bank of South Carolina (OTCQX: BKSC) has declared a quarterly cash dividend of $0.19 per share to shareholders of record on October 8, 2024, payable on October 31, 2024. This marks the 140th quarterly cash dividend paid to shareholders and represents a $0.02 per share or 12% increase from the previous dividend.

Eugene H. Walpole, IV, President and CEO, stated that the company's strong earnings and capital position support this dividend increase. With this payment, the total cash dividends paid to shareholders since the Bank's inception will exceed $66 million. The company expressed pride in its legacy of rewarding shareholders and its intention to continue this practice in the future.

Positive

• Quarterly dividend increased by 12% to $0.19 per share
• Strong earnings and capital position support dividend increase
• Total cash dividends paid to shareholders will exceed $66 million

Negative

• None.

News Market Reaction – BKSC

+0.52%

1 alert

+0.52% News Effect

On the day this news was published, BKSC gained 0.52%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLESTON, S.C., Sept. 26, 2024 /PRNewswire/ -- Today, the Board of Directors of Bank of South Carolina Corporation, (OTCQX: BKSC) the parent company for The Bank of South Carolina, declared a quarterly cash dividend of $0.19 per share to shareholders of record October 8, 2024, payable October 31, 2024.  This represents the 140^th quarterly cash dividend paid to shareholders.

Eugene H. Walpole, IV, President and Chief Executive Officer, stated, "The strength of our earnings to-date and capital position support this $0.02 per share or 12% increase in the quarterly cash dividend.  With its payment, total cash dividends paid to shareholders since the Bank's inception will exceed $66 million.  We are proud to have a legacy of rewarding our shareholders, and we look forward to continuing to do so in the future."

About Bank of South Carolina Corporation

The Bank of South Carolina Corporation is the holding company of The Bank of South Carolina ("The Bank"). The Bank is a South Carolina state-chartered financial institution with offices in Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and the West Ashley community and has been in continuous operation since 1987.  Our website is www.banksc.com. Bank of South Carolina Corporation currently trades its common stock on the OTCQX® Best Market under the symbol "BKSC".

 

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SOURCE BANK OF SOUTH CAROLINA

FAQ

What is the new quarterly dividend for Bank of South Carolina (BKSC)?

Bank of South Carolina (BKSC) has declared a new quarterly cash dividend of $0.19 per share, representing a $0.02 or 12% increase from the previous dividend.

When will Bank of South Carolina (BKSC) pay its next dividend?

Bank of South Carolina (BKSC) will pay its next dividend on October 31, 2024, to shareholders of record as of October 8, 2024.

How many consecutive quarterly dividends has Bank of South Carolina (BKSC) paid?

Bank of South Carolina (BKSC) has paid 140 consecutive quarterly cash dividends to its shareholders.

What is the total amount of dividends paid by Bank of South Carolina (BKSC) since inception?

With the payment of the newly declared dividend, the total cash dividends paid to shareholders by Bank of South Carolina (BKSC) since its inception will exceed $66 million.