Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade SLM now with 
2/5/2013 6:29 PM ET

Student lender SLM Corp. (SLM: Quote), 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.

Register
To receive FREE breaking news email alerts for SLM Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.