RESTON, Va., May 18 /PRNewswire-FirstCall/ -- SLM Corporation , commonly known as Sallie Mae, today announced a 2006 second-quarter dividend on its common stock of $0.25 per share, three cents more than was paid in the previous quarter. The dividend on the common stock will be paid on June 16, 2006 to shareholders of record at the close of business on June 2, 2006.
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In addition, the company announced a 2006 third-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend on the Preferred Stock Series A will be paid on July 31, 2006 to shareholders of record at the close of business on July 21, 2006.
Finally, the company announced a 2006 second-quarter dividend on its Preferred Stock Series B of $1.43542 per share. The dividend on the Preferred Stock Series B will be paid on June 15, 2006 to shareholders of record at the close of business on June 5, 2006.
On March 31, 2006, SLM Corporation had 412.7 million shares of common stock, 3.3 million shares of Preferred Stock Series A and 4.0 million shares of Preferred Stock Series B outstanding. All stocks trade on the New York Stock Exchange.
SLM Corporation , commonly known as Sallie Mae, is the nation's leading provider of education funding, managing nearly $127 billion in student loans for 9 million borrowers. Sallie Mae was originally created in 1972 as a government-sponsored entity (GSE) and terminated its ties to the federal government in 2004. The company remains the country's largest originator of federally insured student loans. Through its specialized subsidiaries and divisions, Sallie Mae also provides debt management services as well as business and technical products to a range of business clients, including colleges, universities and loan guarantors. More information is available at http://www.salliemae.com/. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
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