NEWARK, DE — Sallie Mae (Nasdaq: SLM) declared third-quarter dividends of $1.4393042 per share on its Series B preferred stock and 13 cents per share on its common stock, with both payments scheduled for Sept. 15.
Shareholders of record at the close of business Sept. 4 will be eligible to receive the respective dividends, the company reported.
The declaration maintains the lender’s quarterly cash return to shareholders across both its preferred and common equity classes.
Sallie Mae, formally SLM Corp., provides private student loans and related education-finance products. The company and its subsidiaries are not sponsored by or agencies of the U.S. government.
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