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SALLIE MAE ANNOUNCES APPLICABLE DIVIDEND RATE FOR ADJUSTABLE RATE PREFERRED STOCK

 SALLIE MAE ANNOUNCES APPLICABLE DIVIDEND RATE
 FOR ADJUSTABLE RATE PREFERRED STOCK
 WASHINGTON, Sept. 28 /PRNewswire/ -- Student Loan Marketing Association (Sallie Mae) (NYSE: SLM) today announced an applicable dividend rate of 5.00 percent per annum on its Adjustable Rate Cumulative Preferred Stock, Series A, for the period Oct. 1 through Dec. 31, 1992.
 At June 30, 1992, Sallie Mae had 4,227,650 shares of such stock outstanding. Dividends are computed quarterly, at 4.50 percentage points below the highest yield on certain long-term and short-term U.S. Treasury obligations, but they are never less than 5.00 percent nor more than 14.00 percent per annum. The stock is listed on the New York Stock Exchange.
 Sallie Mae, a federally chartered, stockholder-owned corporation, is the United States' major financial intermediary serving the education credit market. By buying insured education loans and providing other financial services to financial and educational institutions, Sallie Mae replenishes local supplies of education credit. The corporation owns about 30 percent of all guaranteed education loans outstanding today.
 -0- 9/28/92
 /CONTACT: Gisela Vallandigham, 202-298-3147, or Ross Kleinman, 202-298-3013, both of Sallie Mae/
 (SLM) CO: Sallie Mae ST: District of Columbia IN: FIN SU: DIV


IH -- DC021 -- 4030 09/28/92 14:51 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
Words:209
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