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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, Dec. 26 /PRNewswire/ -- The 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 Jan. 1, 1992, through March 31, 1992.
 At Sept. 30, 1991, Sallie Mae had 4.3 million 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.
 Sallie Mae, a federally chartered, stockholder-owned (NYSE) corporation, is the major financial intermediary serving the education credit market. By buying insured student and parent 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- 12/26/91
 /CONTACT: Gisela Vallandigham, 202-298-3147, or Ross Kleinman, 202-298-3013, both of Sallie Mae/
 (SLM) CO: Student Loan Marketing Association ST: District of Columbia IN: FIN SU:


MK-DC -- DC005 -- 5326 12/26/91 14:51 EST
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Publication:PR Newswire
Date:Dec 26, 1991
Words:203
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