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SLM Corp Increases Common Stock Dividend; Authorizes $400 Million Share Repurchase Program


Tuesday, 5 Feb 2013 04:15pm EST 

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. 

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