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SALLIE MAE ANNOUNCES APPLICABLE DIVIDEND RATE FOR ADJUSTABLE RATE PREFERRED STOCK

 WASHINGTON, Dec. 28 /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, 1993, through March 31, 1993.
 At Sept. 30, 1992, 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. The stock is listed on the New York Stock Exchange.
 Sallie Mae, a federally chartered, stockholder-owned (NYSE) corporation, is the major financial intermediary serving the education credit market. The corporation buys and services insured student and parent loans and provides other financial and operational services to originators of such loans. It also provides facilities financing and other services to educational institutions.
 -0- 12/28/92
 /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

DC -- DC010 -- 0148 12/28/92 16:28 EST
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Publication:PR Newswire
Date:Dec 28, 1992
Words:196
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