CHARLESTON, S.C., March 26, 2020 /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 $0.16 per share to
shareholders of record April 6, 2020,
payable April 30, 2020. This
represents the 122nd quarterly cash dividend paid to
shareholders – representing over 30 years of rewarding our
shareholders.
Additionally, the Company authorized the repurchase of up to
$1 million of the Company's issued
and outstanding common stock through March 2021. The stock
repurchases may be open market or private purchases, negotiated
transactions, block purchases, and/or otherwise. The amount and
timing of the stock repurchases will be based on various factors,
such as management's assessment of the Company's liquidity, the
market price of Company common stock compared to management's
assessment of such stock's underlying value, and other applicable
regulatory, legal and accounting factors. The Company has no
obligation to repurchase any shares.
Fleetwood S. Hassell, President
and Chief Executive Officer, stated, "In these times of adversity,
your bank continues to operate with strong capital, steady
earnings, and a visible community presence. As a bank, we are here
as a source of strength and comfort to see our customers and
shareholders through these challenges. We are pleased to declare,
once again, this quarterly cash dividend."
The Bank of South Carolina, a
De Novo Charter, which opened in 1987 at 256 Meeting Street, has
offices in North Charleston,
Summerville, Mt. Pleasant, and the West Ashley community.
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