Sallie Mae Declares Dividends on Preferred Stock Series B and Common Stock

Rhea-AI Summary

Sallie Mae (Nasdaq: SLM) has announced the declaration of its 2023 second-quarter dividends. The company will pay a dividend of $1.6971444 per share on its Preferred Stock Series B and $0.11 per share on its common stock. Both dividends will be distributed on June 15, 2023, to stockholders of record as of June 2, 2023. As a leader in private student lending, Sallie Mae continues to support access to education and enhance customer experiences beyond college through various products and resources.

Positive

• Declaration of a second-quarter dividend of $1.6971444 for Preferred Stock Series B.
• Declaration of a second-quarter dividend of $0.11 for common stock.
• Dividends signify financial stability and confidence in ongoing operations.

Negative

• None.

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced a 2023 second-quarter dividend on its Preferred Stock Series B of $1.6971444 per share. The company also announced a 2023 second-quarter dividend on its common stock of $0.11 per share.

Both preferred stock and common stock dividends will be paid on June 15, 2023, to the respective stockholders of record at the close of business on June 2, 2023.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006069/en/

Media:

Rick Castellano

302.451.2541

Rick.Castellano@SallieMae.com

Investors:

Melissa Bronaugh

571.526.2455

Melissa.Bronaugh@SallieMae.com

Source: Sallie Mae

FAQ

What is the dividend amount declared by Sallie Mae for common stock in 2023?

Sallie Mae declared a dividend of $0.11 per share for its common stock for the second quarter of 2023.

When is the payment date for Sallie Mae's second-quarter dividends?

The payment date for the second-quarter dividends is June 15, 2023.

What is the dividend amount for Sallie Mae's Preferred Stock Series B?

The dividend amount for Sallie Mae's Preferred Stock Series B is $1.6971444 per share.

Who are the stockholders eligible for the dividend payment from Sallie Mae?

Stockholders of record at the close of business on June 2, 2023, are eligible for the dividend payment.