SANTA MONICA, Calif.--(BUSINESS WIRE)--SouthCorp Capital, Inc. (OTCQB: STHC) announced today the Company’s Board of Directors has voted to issue a dividend and the purchase of its initial property.
Dividend: The dividend will be $.0002 per share (or approximately $50,000). The record date will be September 15, 2014. As of September 3, 2014, there are 249,057,315 shares outstanding.
For those shareholders who own shares in a brokerage account, the Company will be wiring the dividend payment directly to Depository Trust Corporation or DTC. DTC will allocate and deposit the aggregate dividend payment among the various brokerage firms for payment to the shareholder’s individual account. If shareholders have any questions please feel free to contact us at email@example.com
Commercial Property: The Company has acquired 2 joining commercial properties in Indiana. We have begun working on redeveloping the properties. The plans being drafted will include retail and commercial space on the ground floor and apartments located on the 2nd floor. The Company expects to have between 15,000 and 30,000 feet of office space and up to 12 apartments.
These properties are in addition to the 1.5 acres of vacant land that is currently having plans drawn to build an apartment building with up to 32 units.
The Company’s goal is acquire or build 50 apartment/houses to be used for rental income and to flip 1-3 houses per quarter.
About SouthCorp Capital. Southcorp Capital, Inc. is a Delaware corporation. The Company focus is on the acquisition and renovation of single-family and mutli-family properties in the U.S with the intent of reselling the property after renovations have occurred. Our real estate investments are expected to focus properties undervalued and/or in need of some repairs.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.