South State Corp. (NASDAQ: SSB) declared a quarterly dividend of $0.38 per share, or $1.52 annualized. This is a 5.6% increase from the prior dividend of $0.36.

The dividend will be payable on February 22, 2019, to stockholders of record on February 15, 2019, with an ex-dividend date of February 14, 2019.

The annual yield on the dividend is 2.3 percent.

The Board of Directors of South State Corporation also announced the authorization for the repurchase of up to 1,000,000 additional common shares of the Company’s common stock (the “Repurchase Program”). The Repurchase Program replaces and supersedes the Company’s prior share repurchase program. The Company is not obligated to repurchase any such shares under the Repurchase Program. Shares will be purchased in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. Repurchases under the Repurchase Program after December 23, 2019 would require additional Federal Reserve approval.

The prior stock repurchase plan, which also authorized 1,000,000 shares, has been fully executed with the buyback of 900,000 shares of common stock during the fourth quarter of 2018 and 100,000 shares of common stock during the third quarter of 2018.

For a dividend history and other dividend-related data on South State Corp. (SSB) click here.