Business Wire | Oct 20, 2021 04:47PM EDT

Sallie Mae Increases Dividend on Common Stock, Declares Dividends on Preferred Stock Series B

Oct. 20, 2021

NEWARK, Del.--(BUSINESS WIRE)--Oct. 20, 2021--Sallie Mae(r) (Nasdaq: SLM), formally SLM Corporation, today announced an increase to its 2021 fourth-quarter dividend on its common stock from $0.03 to $0.11 per share. The company also announced a 2021 fourth-quarter dividend on its Preferred Stock Series B of $0.45955 per share.

Both common stock and preferred stock dividends will be paid on Dec. 15, 2021, to the respective stockholders of record at the close of business on Dec. 3, 2021.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

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CONTACT: Media: Rick Castellano 302.451.2541 Rick.Castellano@SallieMae.com

CONTACT: Investors: Brian Cronin 302.451.0304 Brian.Cronin@SallieMae.com