SLM Corporation, commonly known as Sallie Mae, reports developments tied to private education lending, student-loan servicing and resources for families financing higher education. Company news includes updates to Sallie Mae Graduate Loan, Law School Loan, Medical School Loan and Dental School Loan products, repayment features, prequalification, scholarships through The Sallie Mae Fund, and research on college planning and education affordability.
Recurring announcements also cover quarterly financial results, guidance, senior-note and other capital-structure actions, shareholder voting matters, leadership appointments, and governance or legal-risk developments involving the Sallie Mae brand and its subsidiaries.
Sallie Mae (Nasdaq: SLM) announced its annual meeting of stockholders is set for June 8, 2021, at 1 p.m. ET, to be held virtually. Stockholders of record as of April 12, 2021, will have access. Details will follow in the proxy statement to be filed with the SEC in late April. As a leader in private student lending, Sallie Mae aims to provide financial support and resources for education, contributing to lifelong learning and goal achievement.
Sallie Mae (Nasdaq: SLM) is amending its tender offer to buy up to $1 billion of its common stock. The revised offer price is now set between $14.40 and $16.50 per share, an increase from the previous range of $13.10 to $15.00. The expiration date for the offer is extended to March 10, 2021. Stockholders who have already tendered shares do not need to take further action unless they wish to change their tender. As of Feb. 24, 2021, approximately 194 shares have been tendered. The offer is not contingent on financing or a minimum number of shares being tendered.
Sallie Mae (Nasdaq: SLM) announced that CEO Jon Witter will present at the Credit Suisse Financial Services Forum on Friday, Feb. 26, at 8 a.m. ET. The event will be held virtually, with a live audio webcast and presentation slides available for viewers. As a leader in private student lending, Sallie Mae emphasizes the importance of education and lifelong learning, providing financing options to help students access college and achieve their goals.
Sallie Mae (Nasdaq: SLM) has initiated a tender offer to repurchase up to $1 billion in its common stock, with per-share prices ranging from $13.10 to $15.00. Utilizing a modified Dutch auction format, shareholders can select their desired selling price within this range. The offer aims to enhance shareholder value and liquidity. The offer will expire at 12 a.m. ET on March 2, 2021, unless extended. This initiative aligns with Sallie Mae's commitment to capital allocation and rapid execution of its share repurchase strategy.
Sallie Mae (Nasdaq: SLM) released its fourth-quarter and full-year 2020 financial results, showcasing key highlights. Details can be found in the attached supplement. The financial results are available on their investor site. An earnings conference call is scheduled for January 28, 2021, at 8 a.m. ET, where executives will discuss the quarter's performance. Investors can access the call or a replay through the provided dial-in numbers. Sallie Mae continues to emphasize its role as a leader in private student lending, supporting education and lifelong learning.
Sallie Mae (Nasdaq: SLM) announced a first-quarter dividend for 2021 of $0.4798125 per share on its Preferred Stock Series B and $0.03 for common stock. Both dividends will be payable on March 15, 2021, to stockholders of record by March 5, 2021. The company emphasizes its commitment to education and lifelong learning, providing private student lending to support access to college and beyond. This dividend declaration reflects the company's ongoing commitment to shareholder returns and its confidence in its financial stability.
Sallie Mae (Nasdaq: SLM) has appointed Kerri Palmer as the new Chief Risk and Compliance Officer. Palmer, a seasoned professional with over 20 years in risk management, joins from Capital One, where she was a senior vice president. She succeeds Jeff Dale, who held the position since 2014. CEO Jonathan Witter emphasized the importance of strong risk and compliance functions for the company’s success and expressed confidence in Palmer's ability to drive strategic alignment. Palmer holds degrees from Wheaton College and Texas A&M University.
The Sallie Mae Fund has launched the Bridging the Dream Scholarship Program in partnership with the Thurgood Marshall College Fund, committing $1 million annually for three years. This program targets minority students and those from marginalized backgrounds, aiming to assist nearly 900 recipients in accessing and completing college. The initiative includes three scholarship categories: $10,000 for high school seniors, up to $2,500 for at-risk college students, and $10,000 for graduate students. This is part of Sallie Mae's $4.5 million investment in educational equity.
Sallie Mae (Nasdaq: SLM) will announce its fourth-quarter and full-year 2020 financial results on January 27, 2021, after market close. A conference call is scheduled for January 28, 2021, at 8 a.m. ET, with dial-in options for participants. The live audio webcast and presentation slides will be available on their investor website, with a replay accessible afterward until February 11, 2021. Sallie Mae continues to be a leader in private student lending, providing resources for achieving educational goals.
The Sallie Mae Fund has contributed $50,000 to Big Brothers Big Sisters of Delaware to support students impacted by COVID-19. This grant aims to provide academic support and one-on-one guidance for low-income students adjusting to virtual learning. It also expands mentoring programs for at-risk youth, including LGBTQ+ students. Since 2015, the Sallie Mae Fund has donated over $290,000 to this initiative. Along with the grant, Sallie Mae team members engage in local fundraising events, emphasizing the company's commitment to education and community support.