Sallie Mae (NASDAQ: SLM) initiated and declared a quarterly dividend of $0.03 per share, or $0.12 annualized. The dividend will be payable on March 15, 2019, to stockholders of record on March 5, 2019, with an ex-dividend date of March 4, 2019. The annual yield on the dividend is 1.3 percent.

The new share repurchase program, which is effective immediately and expires on Jan. 22, 2021, permits the company to repurchase from time to time shares of its common stock up to an aggregate repurchase price not to exceed $200 million. The repurchases may occur through a variety of methods, including open market repurchases, repurchases effected through Rule 10b5-1 trading plans, or other similar transactions.For a dividend history and other dividend-related data on Sallie Mae (SLM) click here.