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

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

SLM Trading Up 0.1%

Shares of NASDAQ:SLMBP traded up $0.09 during midday trading on Wednesday, reaching $72.10. 629 shares of the company’s stock traded hands, compared to its average volume of 3,237. The company has a fifty day simple moving average of $74.12 and a two-hundred day simple moving average of $74.46. SLM has a 1 year low of $70.58 and a 1 year high of $76.27.

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.