Sallie Mae reports Q3 GAAP net loss of $0.23/share; raises quarterly dividend to $0.13

SLM Corp

2024-Q3 EPS reported $2.18

GAAP net loss of $50M ($0.23 loss per share); originations grew 13% YoY.
Fourth-quarter common dividend increased to $0.13/share from $0.11; preferred Series B dividend $1.7448719/share.
Full-year 2024 guidance: diluted EPS $2.70-$2.80, originations growth 8%-9%.
Q3 net charge-offs $77M (2.09% of avg loans in repayment annualized), down from 2.53% a year ago.
Repurchased 5.3M shares for $115M in Q3; $448M remaining under share repurchase program.

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