SLM (NASDAQ:SLMBP) Stock Price Down 0.5% – Here’s Why

SLM Co. (NASDAQ:SLMBP) shares fell 0.5% on Tuesday. The company traded as low as $73.00 and last traded at $72.8710. 10,171 shares changed hands during mid-day trading, an increase of 210% from the average daily volume of 3,279 shares. The stock had previously closed at $73.25.

SLM Trading Up 0.4%

The company’s fifty day moving average is $74.36 and its 200 day moving average is $74.53.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were issued a $1.4393 dividend. This is an increase from SLM’s previous quarterly dividend of $1.4269. The ex-dividend date was Friday, September 4th. This represents a $5.76 annualized dividend and a yield of 7.9%.

About SLM

SLM Corporation, commonly known as Sallie Mae, is a financial services company focused on education financing. Through its consumer banking business, the company primarily originates and services private education loans that help students and families pay for undergraduate, graduate and career-training programs.

Sallie Mae also offers savings products and other deposit accounts designed to help customers save for education and manage personal finances. The company serves borrowers and deposit customers in the United States, working with students, parents and educational institutions through its online and direct-to-consumer platforms.

SLM Corporation was originally established as the Student Loan Marketing Association and historically played a major role in the federal student-loan market before becoming an independent, publicly traded education-finance company.