Sallie Mae Reports Third-Quarter 2024 Financial Results and Increases Dividend on Common Stock for Fourth-Quarter 2024

Rhea-AI Summary

Sallie Mae (Nasdaq: SLM) announced its third-quarter 2024 financial results and increased its fourth-quarter common stock dividend from $0.11 to $0.13 per share. The company also declared a fourth-quarter dividend of $1.7448719 per share on its Preferred Stock Series B. Both dividends will be paid on December 16, 2024, to stockholders of record as of December 5, 2024. The company, a leader in private student lending, will host an earnings conference call on October 23, 2024, at 5:30 p.m. ET to discuss quarterly highlights.

Positive

• Increased quarterly common stock dividend by 18.2% (from $0.11 to $0.13 per share)
• Maintained consistent dividend payment schedule for both common and preferred stockholders

Negative

• None.

Insights

Financial Analyst

The news release indicates a meaningful positive development for Sallie Mae with an 18.2% increase in quarterly dividend from $0.11 to $0.13 per share. This dividend hike signals management's confidence in the company's financial health and cash flow generation capabilities. The student loan provider's decision to boost shareholder returns is particularly notable given the current market environment and ongoing discussions about student loan policies. While specific financial results aren't detailed in this release, the dividend increase suggests strong underlying performance and commitment to shareholder value. The timing of both common and preferred stock dividend payments in December provides clear near-term catalysts for investors.

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released third-quarter 2024 financial results. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission’s website at www.sec.gov.

Sallie Mae also announced an increase to its 2024 fourth-quarter dividend on its common stock from $0.11 to $0.13 per share. Sallie Mae further announced a 2024 fourth-quarter dividend on its Preferred Stock Series B of $1.7448719 per share. Both common stock and preferred stock dividends will be paid on Dec. 16, 2024, to the respective stockholders of record at the close of business on Dec. 5, 2024.

Sallie Mae will host an earnings conference call today, Oct. 23, 2024, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter and to answer questions related to Sallie Mae’s performance. A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors and the hosting website.

A replay of the webcast will be available via the company’s investor website approximately two hours after the call’s conclusion.

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/20241023634710/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

When will Sallie Mae (SLM) pay its Q4 2024 dividend?

Sallie Mae will pay its Q4 2024 dividend on December 16, 2024, to stockholders of record as of December 5, 2024.

How much did Sallie Mae (SLM) increase its Q4 2024 common stock dividend?

Sallie Mae increased its common stock dividend from $0.11 to $0.13 per share, representing an 18.2% increase.

What is the Q4 2024 preferred stock dividend for Sallie Mae (SLM) Series B?

Sallie Mae announced a Q4 2024 dividend of $1.7448719 per share for its Preferred Stock Series B.