Sallie Mae Increases Dividend on Common Stock, Declares Dividends on Preferred Stock Series B

Rhea-AI Summary

Sallie Mae (Nasdaq: SLM) has announced an increase in its fourth-quarter dividend for 2021, raising it from $0.03 to $0.11 per share for common stockholders. Additionally, the Preferred Stock Series B dividend is set at $0.45955 per share. Both dividends will be payable on December 15, 2021, to stockholders on record as of the close of business on December 3, 2021. This move reflects the company's commitment to shareholder returns amidst its position as a leader in private student lending.

Positive

• Increased fourth-quarter dividend for 2021 from $0.03 to $0.11 per share for common stockholders.
• Preferred Stock Series B dividend set at $0.45955 per share.
• Dividends signify company confidence and commitment to shareholder returns.

Negative

• None.

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced an increase to its 2021 fourth-quarter dividend on its common stock from $0.03 to $0.11 per share. The company also announced a 2021 fourth-quarter dividend on its Preferred Stock Series B of $0.45955 per share.

Both common stock and preferred stock dividends will be paid on Dec. 15, 2021, to the respective stockholders of record at the close of business on Dec. 3, 2021.

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/20211020006080/en/

Media:

Rick Castellano

302.451.2541

Rick.Castellano@SallieMae.com

Investors:

Brian Cronin

302.451.0304

Brian.Cronin@SallieMae.com

Source: Sallie Mae

FAQ

When is the dividend payment date for SLM's common stock?

The dividend payment date for SLM's common stock is December 15, 2021.

What is the new dividend amount for SLM's common stock?

The new dividend amount for SLM's common stock is $0.11 per share.

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

The dividend amount for SLM's Preferred Stock Series B is $0.45955 per share.

Who is eligible to receive SLM's dividend?

Stockholders on record as of the close of business on December 3, 2021, are eligible to receive SLM's dividend.