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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, March 25 /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 April 1, 1992, through June 30, 1992.
 At Dec. 31, 1991, Sallie Mae had 4,277,650 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.
 Sallie Mae, a federally chartered, stockholder-owned corporation, is the United States' 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- 3/25/92
 /CONTACT: Gisela Vallandigham, 202-298-3147, or Ross Kleinman, 202-298-3013, both of the Student Loan Marketing Association/
 (SLM) CO: Student Loan Marketing Association ST: District of Columbia IN: FIN SU: DIV


SB-MK -- DC035 -- 1672 03/25/92 16:45 EST
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Publication:PR Newswire
Date:Mar 25, 1992
Words:208
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