SLM Co. (NASDAQ:SLMBP) Increases Dividend to $1.49 Per Share

SLM Co. (NASDAQ:SLMBP) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, December 4th will be given a dividend of $1.4940 per share on Tuesday, December 15th. This represents a $5.98 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, December 4th. This is a 3.8% increase from SLM’s previous quarterly dividend of $1.4393.

SLM Stock Up 0.1%

Shares of SLMBP traded up $0.09 during midday trading on Wednesday, reaching $72.10. 629 shares of the stock were exchanged, compared to its average volume of 3,237. SLM has a twelve month low of $70.58 and a twelve month high of $76.27. The stock’s 50 day simple moving average is $74.12 and its 200 day simple moving average is $74.46.

About SLM

SLM Corporation, commonly known as Sallie Mae, is a U.S.-based education finance company that provides private student loans to undergraduate and graduate students. Its lending products are designed to help families cover qualified education expenses not met by scholarships, grants, federal student aid or other funding sources.

The company also offers consumer banking products, including savings accounts and certificates of deposit, along with resources intended to help students and families plan for and manage the cost of higher education.