Bank of South Carolina Corporation Declares Dividend

Rhea-AI Summary

The Bank of South Carolina Corporation (NASDAQ: BKSC) announced a quarterly cash dividend of $0.17 per share and a special cash dividend of $0.10 per share, both payable on April 30, 2021, to shareholders of record as of April 6, 2021. This marks the 126th quarterly cash dividend, continuing over 30 years of shareholder returns. CEO Fleetwood S. Hassell noted a successful stock repurchase program, utilizing $400,000 of the $1.0 million authorized, while expressing optimism for the company’s future amid strong capitalization.

Positive

• Regular quarterly cash dividend of $0.17 per share reinforces shareholder returns.
• Special cash dividend of $0.10 per share demonstrates commitment to rewarding investors.
• Successful stock repurchase of $400,000 indicates strong financial health and confidence.
• Company remains well capitalized, suggesting stability and future growth potential.

Negative

• None.

CHARLESTON, S.C., March 25, 2021 /PRNewswire/ -- Today, the Board of Directors of Bank of South Carolina Corporation, (NASDAQ: BKSC) the parent company for The Bank of South Carolina, declared a quarterly cash dividend of $0.17 per share to shareholders of record April 6, 2021, payable April 30, 2021. This represents the 126^th quarterly cash dividend paid to shareholders – representing over 30 years of rewarding our shareholders.

Additionally, the Board of Directors declared a special cash dividend of $0.10 per share to shareholders of record April 6, 2021, payable April 30, 2021.

Fleetwood S. Hassell, President and Chief Executive Officer, stated, "On March 26, 2020, our Board of Directors authorized the repurchase of up to $1.0 million of the Company's common stock. Of that amount, approximately $400,000 was used to repurchase 25,067 shares. The repurchase program is scheduled to expire at the end of this quarter, and we are pleased with its success.  We are additionally pleased to use the remaining funds to reward our shareholders with a special, one-time $0.10 per share cash dividend, in addition to the regular $0.17 per share quarterly cash dividend payable on April 30, 2021 to shareholders of record April 6, 2021. We remain extremely well capitalized and look forward to moving through the rest of the year with a return to brighter days."

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 bank with offices in Charleston, North Charleston, Summerville, Mt. Pleasant, 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 NASDAQ stock market under the symbol "BKSC".

 

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SOURCE Bank of South Carolina Corporation

FAQ

What is the dividend amount for BKSC in April 2021?

The dividend amount for BKSC in April 2021 is $0.17 per share, along with a special cash dividend of $0.10 per share.

When will the BKSC dividend be paid?

The BKSC dividend will be paid on April 30, 2021.

Who qualifies for the BKSC dividend?

Shareholders of record as of April 6, 2021, qualify for the BKSC dividend.

How long has BKSC been paying dividends?

BKSC has been paying dividends for over 30 years, with the upcoming payment being the 126th quarterly cash dividend.