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

Editors Pick
Ford Motor Co. has issued a safety recall for nearly 117,000 vehicles in North America to replace improperly tempered bolts in seats and seatbelts that could fracture. The affected vehicles include 2014 Ford F-150 pickup trucks, 2014 E-Series vans, 2014-15 Ford Escape SUVs and 2015 Lincoln MKC SUVs to replace improperly tempered bolts in seats and seatbelts. Electronics retailer Best Buy is adding Dyson mini-shops to its select stores in the U.S. next month. Dyson is a maker of vacuums, hair dryers, air purifiers and other household items. Starting in August, about 90 U.S. Best Buy stores will get new Dyson Demo Experiences - dedicated spaces that will enable customers try out Dyson products as if they were in their own home. Shares of Airbus Group SE were losing around 4 percent in the morning trading in Paris after the aerospace and defense major reported Thursday a sharp decline in its second-quarter profit with lower revenues. Further, the company maintained its guidance for the full year 2017.
comments powered by Disqus
Follow RTT