SLM Corporation Plans Quarterly Dividend of $0.13 (NASDAQ:SLM)

SLM Corporation (NASDAQ:SLM) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Friday, September 4th will be given a dividend of 0.13 per share by the credit services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th.

SLM has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. SLM has a dividend payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 15.3%.

SLM Stock Performance

Shares of SLM opened at $25.22 on Thursday. The company has a 50-day moving average of $23.46 and a two-hundred day moving average of $23.34. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 2.30 and a beta of 0.94. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.30 and a quick ratio of 1.29. SLM has a one year low of $17.77 and a one year high of $33.50.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Thursday, April 23rd. The credit services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.40. The business had revenue of $559.99 million for the quarter, compared to analyst estimates of $486.05 million. SLM had a net margin of 26.42% and a return on equity of 34.80%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, equities research analysts expect that SLM will post 3.16 earnings per share for the current year.

SLM Company Profile

SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.

Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.