SLM Corporation Announces Preferred Dividends

RESTON, Va.--(BUSINESS WIRE)-- SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, today announced a 2010 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 Nov. 1, 2010 to shareholders of record at the close of business on Oct. 22, 2010.

In addition, the company announced a 2010 third-quarter dividend on its Preferred Stock Series B of $0.3161376 per share. The dividend on the Preferred Stock Series B will be paid on Sept. 15, 2010 to shareholders of record at the close of business on Sept. 3, 2010.

Finally, the company announced a 2010 third-quarter dividend on its Preferred Stock Series C of $18.125 per share. The dividend on the Preferred Stock Series C will be paid on Sept. 15, 2010 to shareholders of record at the close of business on Sept. 1, 2010.

On June 30, 2010, SLM Corporation had 3.3 million shares of Preferred Stock Series A, 4 million shares of Preferred Stock Series B and 0.8 million shares of Preferred Stock Series C outstanding. The Preferred Stock Series A and B trade on the New York Stock Exchange.

SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, is the nation’s leading saving, planning and paying for education company. Sallie Mae’s saving programs, planning resources and financing options have helped more than 31 million people make the investment in higher education. Through its subsidiaries, the company manages $184 billion in education loans and serves 10 million student and parent customers. In addition, the company’s Upromise program has enabled 12 million members to earn more than $550 million in rewards to help pay for college. Its Upromise affiliates also manage more than $23 billion in 529 college-savings plans. Sallie Mae offers services to a range of institutional clients, including colleges and universities, student loan guarantors and state and federal agencies. More information is available at www.SallieMae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

CONTACT:

Sallie Mae
Rick Castellano, +1-703-984-5535
Richard.Castellano@SallieMae.com

KEYWORDS:   United States  North America  Virginia

INDUSTRY KEYWORDS:   Professional Services  Banking  Finance

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