logo
Share SHARE
FONT-SIZE Plus   Neg

Sallie Mae Ups Common Stock Dividend, Announces $400 Mln Stock Buyback Program

Student lender SLM Corp. (SLM), commonly known as Sallie Mae, said Tuesday that its Board of Directors has approved increasing the quarterly dividend on the company's common stock from $0.125 to $0.15 per share.

The next quarterly dividend will be paid on March 15 to shareholders of record on March 1.

The company also said its board has authorized a $400 million share repurchase program for the company's outstanding common stock. The program does not have an expiration date.

In addition, the company announced a 2013 first-quarter dividend on its Preferred Stock Series B of $0.4908444 per share. The dividend on the Preferred Stock Series B will be paid on March 15 to Series B shareholders of record at the close of business on March 5.

The company also scheduled May 30 as the date for its 2013 Annual Meeting of Shareholders.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its fourth-quarter profit dropped 2 percent from a year ago, hurt largely by lower-than-expected revenues and weak margins. Shares of the company slipped over 6 percent in the after-hours trading. Beaverton, Oregon-based... WalletHub has released a list of the best large U.S. cities to launch new business, and the results will shock you. It seems the Midwest is an entrepreneur's... IKEA is voluntarily recalling 29 million chests and dressers in the U.S. following reports of several injuries, including deaths of three children caused by them tipping over. The recalled chests and dressers are unstable if they are not properly anchored to the wall, posing a serious tip-over and...
comments powered by Disqus
Follow RTT