Key Developments: SLM Corp (ISM.W)
23.74USD
5 Jun 2013
$-0.50 (-2.06%)
$24.24
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Latest Key Developments (Source: Significant Developments)
SLM Corp To Split Into Two Companies, Names New CEO-Reuters
Reuters reported that SLM Corporation d/b/a Sallie Mae would split into two publicly traded companies and named Chief Operating Officer John Remondi as its new Chief Executive. The consumer banking business will separated from the larger education loan management business as part of a plan to unlock value and enhance long-term growth potential, the Company said on May 29, 2013. The education loan management business will own about 95% of Sallie Mae's existing assets. It is likely to consist of $118.1 billion in FFELP loans, $31.6 billion in private education loans, $7.9 billion of other interest-earning assets. The consumer banking business is expected to include about $9.9 billion of assets comprising primarily private education loans and related origination and servicing platforms. The split is expected to be completed in the next 12 months. Full Article
SLM Corp Appoints Jack Remondi As Chief Executive Officer
SLM Corp announced that Board of Directors has appointed John (Jack) F. Remondi Chief Executive Officer, effective immediately. Mr. Remondi succeeds Albert L. Lord, Sallie Mae's Vice Chairman and Chief Executive Officer, who is moving up his plans to retire from the Board of Directors and executive management. Full Article
Sallie Mae Raises FY 2013 EPS Guidance
Sallie Mae (formally SLM Corp) announced that for fiscal 2013, it expects fully diluted core earnings per share of $2.49. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.44 for fiscal 2013. Full Article
SLM Corp Declares Common Stock Dividend
SLM Corp announced that its Board of Directors approved a quarterly dividend on the Company`s common stock of $0.15 per share. The dividend will be paid on June 21, 2013, to shareholders of record at the close of business on June 7, 2013. In addition, the company announced a 2013 second-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 April 30, 2013, to Series A shareholders of record at the close of business on April 19, 2013. The Company also announced a 2013 second-quarter dividend on its Preferred Stock Series B of $0.5170261 per share. The dividend on the Preferred Stock Series B will be paid on June 17, 2013, to shareholders of record at the close of business on June 7, 2013. Full Article
SLM Corp Announces Resignation Of CFO-Form 8-K
SLM Corp reported in its Form 8-K that on February 22, 2013, SLM Corporation (Company) announced that Mr. Jonathan C. Clark, the Company’s current Executive Vice President and Chief Financial Officer (CFO) (and current principal financial officer and principal accounting officer), will be departing the Company at the end of March. Joseph A. DePaulo, the Company’s current Executive Vice President, Marketing will assume the new position of Executive Vice President—Banking and Finance effective immediately as part of the Company’s broader efforts to distinguish its private credit products and banking franchise from the Company’s Federal Family Education and Direct Student Loan program funding and servicing activities. Upon Mr. Clark’s departure, Mr. DePaulo will serve as the Company’s principal financial officer. Full Article
SLM Corp Increases Common Stock Dividend; Authorizes $400 Million Share Repurchase Program
SLM Corp announced that its Board of Directors today approved increasing the quarterly dividend on the Company`s common stock from 12.5 cents to 15 cents per share. The next quarterly dividend will be paid on March 15, 2012 to shareholders of record at the close of business on March 1, 2012. The Board of Directors also authorized a $400 million share repurchase program for the Company's outstanding common stock. In addition, the Company announced a 2013 first-quarter dividend on its Preferred Stock Series B of $0.4908444 per share. The dividend on the Preferred Stock Series B will be paid on March 15 to Series B shareholders of record at the close of business on March 5. Full Article
SLM Corp Reaffirms FY 2013 EPS Guidance-Conference Call
SLM Corp announced that for fiscal 2013, it expects to reach $2.30 earnings per share (EPS) target. Full Article
SLM Corp Issues FY 2013 EPS Guidance-Conference Call
SLM Corp announced that EPS guidance for fiscal 2013 is about $2.30 a share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.33 for fiscal 2013. Full Article
SLM Corp Announces Management Changes
Sallie Mae formally SLM Corporation, announced that after service spanning more than 30 years, its Vice Chairman and Chief Executive Officer Albert L. Lord will retire as CEO, Vice Chairman and Director, effective Dec. 31, 2013. Sallie Mae`s Board of Directors has appointed a search committee to facilitate an effective transition and consider identified internal candidates, as well as qualified external candidates. Full Article
SLM Corp Announces Dividend Declaration
SLM Corp announced a 2012 fourth quarter dividend on its common stock of $0.125 per share. The dividend will be paid on December 21, 2012, to shareholders of record at the close of business on December 7, 2012. The company also announced a 2012 fourth quarter dividend on its Preferred Stock Series B of $0.5271049 per share. The dividend on the Preferred Stock Series B will be paid on December 17, 2012, to shareholders of record at the close of business on December 7, 2012. The Company further announced a 2013 first 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 January 31, 2013, to shareholders of record at the close of business on January 18, 2013. Full Article
Sallie Mae to split into two companies, names new CEO
- Sallie Mae Corp. , the largest U.S. student loan provider, said on Wednesday it would split into two publicly traded companies as it seeks better valuation for its private student lending business.
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