The Bank of South Carolina Corp. has raised its quarterly dividend by a penny, or 9 percent.

The new rate is 12 cents per share.

The dividend is payable Dec. 31 to shareholders of record as of Nov. 30.

“Over the past 25 years, we have paid out in excess of $23 million in cash dividends and all the while have maintained exemplary capital levels,” Fleetwood S. Hassell, president and chief executive officer, said in statement today. “We are very proud that we can continue to reward our shareholders.”

The higher rate represents a 4 percent annual yield based on the Charleston-based bank owner’s current stock price of $11.50.