Sallie Mae Announces Preferred Dividend

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (NYSE: SLM), the nation’s No. 1 financial services company specializing in education, today announced a 2011 fourth-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend on the Preferred Stock Series A will be paid on Oct. 31, 2011, to shareholders of record at the close of business on Oct. 21, 2011.

On June 30, 2011, Sallie Mae had 3.3 million shares of Preferred Stock Series A outstanding. The Preferred Stock Series A trades on the New York Stock Exchange.

Sallie Mae (NYSE: SLM) is the nation’s No. 1 financial services company specializing in education. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. Through its subsidiaries, the company manages or services $234 billion in education loans and administers $38 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $625 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $8 billion in ecommerce transactions annually at nearly 1,000 campuses. More information is available at www.SallieMae.com. SLM Corporation and its subsidiaries, commonly known as Sallie Mae, are not sponsored by or agencies of the United States of America.