The board of First Community Corp. approved an increase in the cash dividend for the fourth quarter of 2016 to 9 cents, payable Feb. 13 to shareholders of record Jan. 30.

The dividend represents an increase of 1 cent per share over the last dividend payout of 8 cents per share.

The Lexington, S.C.-based company reported fourth-quarter 2016 net income available to common shareholders of $1.8 million, or 26 cents per share, compared to $1.6 million, or 24 cents per share, in the fourth quarter of 2015.