SLM's Preferred Stock, Series B Shares Cross 7% Yield Mark

In trading on Thursday, shares of SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (SLMBP) were yielding above the 7% mark based on its quarterly dividend (annualized to $4.5064), with shares changing hands as low as $63.72 on the day. This compares to an average yield of 5.56% in the "Financial" preferred stock category, according to Preferred Stock Channel..
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