Sallie Mae Declares Preferred Stock Series A and B Dividends

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae (Nasdaq: SLM), the nation’s saving, planning, and paying for college company, today announced a 2017 first-quarter dividend on its Preferred Stock Series B of $0.6675975 per share. The Preferred Stock Series B dividend will be paid on March 15, 2017, to stockholders of record at the close of business on March 5, 2017.

In addition, the company announced a 2017 second-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The Preferred Stock Series A dividend will be paid on May 1, 2017, to stockholders of record at the close of business on April 17, 2017.

On Dec. 31, 2016, Sallie Mae had approximately 3.3 million shares of Preferred Stock Series A outstanding, and approximately 4 million shares of Preferred Stock Series B outstanding.

Sallie Mae (Nasdaq: SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, Upromise rewards, scholarship search, college financial planning tools, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

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Sallie Mae
Media:

Rick Castellano, 302-451-2541

rick.castellano@salliemae.com

or

Investors:

Brian Cronin, 302-451-0304

brian.cronin@salliemae.com

Source: Sallie Mae