SLM Corporation (SLM) to Issue Quarterly Dividend of $0.13 on December 15th

SLM Corporation (NASDAQ:SLM) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Friday, December 4th will be given a dividend of $0.13 per share by the credit services provider on Tuesday, December 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, December 4th.

SLM has increased its dividend by an average of 0.3% annually over the last three years and has raised its dividend every year for the last 1 years. SLM has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 15.2%.

SLM Stock Up 2.6%

Shares of NASDAQ:SLM opened at $22.83 on Thursday. The firm has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $24.02. SLM has a 52 week low of $17.77 and a 52 week high of $31.06. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.32 and a current ratio of 1.33. The company has a market cap of $4.29 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.96.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.17). SLM had a return on equity of 33.81% and a net margin of 26.09%. The firm had revenue of $401.11 million for the quarter, compared to analysts’ expectations of $409.22 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that SLM will post 3.12 earnings per share for the current year.

SLM Company Profile

SLM Corp., commonly known as Sallie Mae, is a financial services company focused on helping students and families finance higher education. Its primary business is the origination and servicing of private education loans, which can help cover tuition, fees, books, housing and other eligible education-related expenses not fully covered by federal student aid.

The company offers private student loans for undergraduate and graduate education, as well as loans for career-training programs and other education needs.