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SLM's Preferred Stock, Series B shares Crosses Above 5% Yield Territory


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In trading on Wednesday, shares of SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (Symbol: SLMBP) were yielding above the 5% mark based on its quarterly dividend (annualized to $2.3915), with shares changing hands as low as $47.72 on the day. This compares to an average yield of 5.98% in the "Credit Services & Lending" preferred stock category, according to Preferred Stock Channel . As of last close, SLMBP was trading at a 51.11% discount to its liquidation preference amount, versus the average discount of 26.25% in the "Credit Services & Lending" category. Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

Performance Comparison Chart

Below is a dividend history chart for SLMBP, showing historical dividend payments on SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share:

SLMBP+Dividend+History+Chart

In Wednesday trading, SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (Symbol: SLMBP) is currently off about 2.3% on the day, while the common shares (Symbol: SLM) are up about 0.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: Investing
Referenced Symbols: SLMBP , SLM



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