Nelnet (NNI: Quote) reported second-quarter GAAP net income of $41.4 million, or $0.87 per share, compared to $37.1 million, or $0.76 per share last year.
Excluding derivative market value adjustments, net income for the quarter rose to $53.5 million, or $1.13 per share from $47.5 million, or $0.98 per share in the comparable quarter a year ago.
Revenue for the quarter was $16.83 million, up 14% from $14.76 million in the prior year quarter.
Further, Nelnet Board of Directors also declared a third quarter cash dividend on the company's outstanding shares of Class A common stock and Class B common stock of $0.10 per share. The dividend will be paid on September 15, 2012, to shareholders of record at the close of business on September 1, 2012.
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by RTT Staff Writer
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