UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: August 27, 2015
BANK OF SOUTH CAROLINA CORPORATION
(Exact name of registrant as specified in its charter)
| South Carolina | 0-27702 | 57-1021355 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 256 Meeting Street, Charleston, SC | 29401 |
| (Address of principal executive offices) | (Zip Code) |
| Registrant’s telephone number, including area code | (843)724-1500 |
| (Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 OTHER EVENTS
On August 27, 2015 the Bank of South Carolina Corporation issued a press release announcing a 10% stock dividend. The information contained in the press release is deemed to be “filed” under the Securities Exchange Act of 1934 as Item 8.01 to this report, and such press release is incorporated herein by reference.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
| (d) | Exhibits. |
The following Exhibit is filed as part of this report
| Exhibit 99.1 | Press release dated August 27, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Bank of South Carolina Corporation | |
| (Registrant) | |
| Date: August 27, 2015 | |
| /s/Sheryl G. Sharry | |
| Sheryl G. Sharry | |
| Chief Financial Officer | |
| Executive Vice President |
Exhibit 99.1
Bank of South Carolina Corporation Declares Dividend
CHARLESTON, S.C., Aug. 27, 2015 /PRNewswire/ -- At its August 27, 2015 meeting, the Board of Directors of Bank of South Carolina Corporation the parent company for The Bank of South Carolina, (NASDAQ: BKSC) declared a 10% stock dividend payable September 28, 2015 to shareholders of record as of September 8, 2015.
Fleetwood S. Hassell, President and Chief Executive Officer of the Bank of South Carolina, stated, "We are pleased, once again, to reward our shareholders, many of whom have been owners since our inception 28 years ago, with this dividend. We also intend to maintain our quarterly cash dividend of $.13 per share. As community banks continue to disappear, we remain committed to being independent and to serving the Lowcountry of South Carolina for the long term."
The Bank of South Carolina, a De Novo Charter, which opened in 1987 at 256 Meeting Street, has offices in 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".
CONTACT: Sheryl G. Sharry, TELEPHONE: (843) 724-1500