Bank of South Carolina said on March 23, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Previously, the company paid $0.17 per share.
Shares must be purchased before the ex-div date of April 3, 2023 to qualify for the dividend. Shareholders of record as of April 4, 2023 will receive the payment on April 28, 2023.
At the current share price of $16.18 / share, the stock's dividend yield is 4.20%. Looking back five years and taking a sample every week, the average dividend yield has been 3.77%, the lowest has been 2.98%, and the highest has been 5.49%. The standard deviation of yields is 0.40 (n=153).
The current dividend yield is 1.09 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 44 funds or institutions reporting positions in Bank of South Carolina. This is an increase of 3 owner(s) or 7.32% in the last quarter. Average portfolio weight of all funds dedicated to BKSC is 0.01%, a decrease of 5.37%. Total shares owned by institutions decreased in the last three months by 10.89% to 387K shares.
What are Large Shareholders Doing?
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 72K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 72K shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in BKSC by 3.33% over the last quarter.
Northern Trust holds 40K shares representing 0.73% ownership of the company. In it's prior filing, the firm reported owning 20K shares, representing an increase of 51.30%. The firm decreased its portfolio allocation in BKSC by 38.48% over the last quarter.
Bank Of America holds 38K shares representing 0.69% ownership of the company. In it's prior filing, the firm reported owning 44K shares, representing a decrease of 13.55%. The firm decreased its portfolio allocation in BKSC by 99.92% over the last quarter.
Geode Capital Management holds 26K shares representing 0.46% ownership of the company. In it's prior filing, the firm reported owning 26K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in BKSC by 7.48% over the last quarter.
LPL Financial holds 14K shares representing 0.26% ownership of the company.
Bank Of South Carolina Background Information
(This description is provided by the company.)
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
