Bank of South Carolina Corporation Dividend Announcement
The Board of Directors of Bank of South Carolina Corporation, a leading financial institution, has declared a quarterly cash dividend of $0.23 per share. Shareholders who held their shares as of December 30, 2025, will receive this dividend, which will be paid on January 30, 2026. This dividend marks the 145th consecutive payment to shareholders, showcasing the company’s commitment to returning value.
New Share Repurchase Program Initiated
In addition to the dividend announcement, the Board has approved a new share repurchase program to buy back up to $2.0 million of the company's common stock. This program replaces a previous buyback initiative that concluded with the successful repurchase of 156,326 shares at an average price of $12.79 per share. This strategic decision is aimed at optimizing shareholder returns and reinforcing confidence in the company's market position.
Flexibility in Share Repurchase Approach
The share repurchases under this newly authorized program may include various methods. These could be open market purchases, negotiated transactions, or block purchases, all in compliance with SEC regulations. The timing and amount of shares repurchased will depend on numerous factors, including the operational liquidity of the company and the prevalent market price of its shares. The Board retains discretion over the continuation of share purchases, which means it can pause or stop the program as deemed necessary.
About Bank of South Carolina Corporation
Bank of South Carolina Corporation serves as the parent company for The Bank, which is a state-chartered financial institution operating in several locations including Charleston, North Charleston, and Mt. Pleasant. Since its inception in 1987, The Bank has remained dedicated to serving its community. The Bank offers a broad range of services including personal banking, business financing, and wealth management, ensuring a comprehensive financial experience for its clients. With a commitment to community engagement and customer service, Bank of South Carolina remains focused on growth and innovation.
Frequently Asked Questions
What is the dividend declared by Bank of South Carolina Corporation?
The dividend announced is $0.23 per share, effective for shareholders on record by December 30, 2025.
What is the share repurchase program amount?
The newly approved share repurchase program allows for up to $2.0 million in common stock buybacks.
How does the share repurchase impact shareholders?
The share repurchase aims to enhance shareholder value and reflect confidence in the company's financial health.
When is the dividend scheduled for payment?
The dividend is scheduled to be paid on January 30, 2026.
Is there any obligation for the company to repurchase shares?
No, the company is not obligated to repurchase any shares and can discontinue the program at any time.
