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Sallie Mae Announces Dividends

^{Published on 2011-07-29 13:36:02 - Market Wire}
 

NEWARK, Del.--([ BUSINESS WIRE ])--Sallie Mae (NYSE: SLM), the nationa™s No. 1 financial services company specializing in education, today announced a 2011 third-quarter dividend on its common stock of $0.10 per share. The dividend will be paid on Sept. 16, 2011, to shareholders of record at the close of business on Sept. 2, 2011.

In addition, the company announced a 2011 third-quarter dividend on its Preferred Stock Series B of $0.4971194 per share. The dividend on the Preferred Stock Series B will be paid on Sept. 15, 2011, to shareholders of record at the close of business on Sept. 5, 2011.

On June 30, 2011, Sallie Mae had 529 million shares of common stock, 3.3 million shares of Preferred Stock Series A, and 4 million shares of Preferred Stock Series B outstanding. The stocks trade on the New York Stock Exchange.

Sallie Mae (NYSE: SLM) is the nationa™s No. 1 saving, planning and paying for college company. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. Through its subsidiaries, the company manages or services $234 billion in education loans and administers $38 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $600 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $8 billion in ecommerce transactions annually at nearly 1,000 campuses. More information is available at [ www.SallieMae.com ]. SLM Corporation and its subsidiaries, commonly known as Sallie Mae, are not sponsored by or agencies of the United States of America.