SLM Corporation

SLM

Financial Services · Credit Services · Stock · quarterly payer

$21.81

Overvalued · -24% Add to Portfolio

Forward Yield

2.39%

Annual Dividend

$0.52

Payout Ratio

14%

5-Yr Growth

34.1%

Ex-Date

Sep 4, 2026

Frequency

Quarterly

Key facts about SLM's dividend

Data as of Oct 18, 2026 · Source: SmarterDividends data

As of Oct 18, 2026, SLM Corporation (SLM) has a forward dividend yield of 2.39%, based on an annual dividend of $0.52 per share and a share price of $21.81.
As of Oct 18, 2026, SLM's dividend safety grade from SmarterDividends is B (68 out of 100), which rates the dividend as safe.
By SmarterDividends' count, SLM Corporation (SLM) has raised its dividend for 2 consecutive years as of Oct 18, 2026.
SLM last cut its regular dividend in 2019.
SLM's most recent ex-dividend date was Sep 4, 2026, for a dividend of $0.13 per share.
As of Oct 18, 2026, SLM pays out 14% of its trailing 12-month earnings as dividends (its payout ratio).
SLM's dividend has grown at an average rate of 34.1% a year over the past five years.
As of Oct 18, 2026, SLM's 2.39% yield is 15% above its five-year average yield of 2.07%.
As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for SLM is $16.49 per share, 24% below the $21.81 share price, so SLM screens as overvalued.
SLM Corporation (SLM) pays its dividend quarterly, 4 times a year.
SLM Corporation (SLM) has raised its regular dividend 25 times and cut it 0 times across the 123 payments on record since 1987. Its most recent change was a 18.2% increase to $0.130 per share, going ex-dividend on Dec 5, 2024.

Cite this page

SmarterDividends, "SLM Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/SLM

Summary

As of Oct 18, 2026, SLM Corporation (SLM) yields 2.39% ($0.52 a year per share), has a dividend safety grade of B (68/100) and has 2 consecutive years of dividend increases on record.

Is SLM a good dividend stock?

Yes, with caveats

SLM Corporation (SLM) pays a quarterly dividend yielding 2.39% ($0.52/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

Comfortable payout ratio (14%)
Strong 34.1% 5-yr dividend growth

Risks

Cut its dividend in 2019

Key Data

Dividend Yield: 2.39%
Payout Ratio: 14%
Annual Dividend: $0.52
5-Yr Avg Growth: 34.1%
Ex-Dividend Date: Sep 4, 2026
Years of Growth: 2
Frequency: quarterly
Beta: 0.98
Market Cap: $4.1B
P/E Ratio: 6.1
5-Yr Total Return: 23%
52-Week Range: $17.77 – $31.06
Dividend Safety: B · 68/100
Ever Cut?: Yes (2019)

SLM dividend raises and cuts

SLM Corporation (SLM) has raised its regular dividend 25 times and cut it 0 times across the 123 payments on record since 1987. Its most recent change was a 18.2% increase to $0.130 per share, going ex-dividend on Dec 5, 2024.

Ex-date	Change	Old → new	Move
Dec 5, 2024	Raise	$0.110 → $0.130	+18.2%
Dec 2, 2021	Raise	$0.0300 → $0.110	+266.7%
Feb 27, 2013	Raise	$0.0447 → $0.0536	+20.0%
Feb 29, 2012	Raise	$0.0357 → $0.0447	+25.0%
May 31, 2006	Raise	$0.0786 → $0.0894	+13.6%
Jun 1, 2005	Raise	$0.0679 → $0.0786	+15.8%
Jun 2, 2004	Raise	$0.0608 → $0.0679	+11.8%
Jun 4, 2003	Raise	$0.0298 → $0.0608	+104.0%
Dec 4, 2002	Raise	$0.0238 → $0.0298	+25.0%
Dec 5, 2001	Raise	$0.0208 → $0.0238	+14.3%
Nov 29, 2000	Raise	$0.0191 → $0.0208	+9.4%
Dec 1, 1999	Raise	$0.0179 → $0.0191	+6.7%

Show all 25 changes since 1987

Ex-date	Change	Old → new	Move
Dec 2, 1998	Raise	$0.0167 → $0.0179	+7.1%
Dec 3, 1997	Raise	$0.0150 → $0.0167	+11.4%
Dec 3, 1996	Raise	$0.0136 → $0.0150	+10.0%
Dec 4, 1995	Raise	$0.0126 → $0.0136	+8.1%
Nov 30, 1994	Raise	$0.0119 → $0.0126	+5.7%
Dec 1, 1993	Raise	$0.0102 → $0.0119	+16.7%
Dec 1, 1992	Raise	$0.0085 → $0.0102	+20.0%
Dec 2, 1991	Raise	$0.0068 → $0.0085	+25.0%
Dec 3, 1990	Raise	$0.0044 → $0.0068	+53.9%
Dec 1, 1989	Raise	$0.0034 → $0.0044	+30.0%
May 24, 1989	Raise	$0.0027 → $0.0034	+25.0%
Dec 1, 1988	Raise	$0.0018 → $0.0027	+48.2%
Dec 1, 1987	Raise	$0.0012 → $0.0018	+50.0%

Every SLM payment →Download every raise and cut (CSV)

SLM ex-dividend date & scheduleNext ex-date Sep 4, 2026 · full ex-dividend historyView →SLM dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is SLM a good dividend stock?

Yes, with caveats. SLM Corporation (SLM) pays a quarterly dividend yielding 2.39% ($0.52/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Is SLM undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, SLM's fair value is about $16.49 versus a $21.81 share price — so it looks overvalued (-24% vs. fair value).

Is SLM's dividend safe?

SLM has a dividend-safety grade of B (68/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2019, debt and yield-versus-history.

What is SLM's fair value?

Our blended fair-value estimate for SLM is about $16.49 per share, about 24% below the current $21.81 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is SLM a buy, hold, or sell?

We don't issue formal ratings, but on the data SLM screens as "yes, with caveats" and overvalued. SLM Corporation (SLM) pays a quarterly dividend yielding 2.39% ($0.52/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will SLM cut its dividend?

SLM earns a dividend-safety grade of B (68/100), and has cut its dividend before (last in 2019). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does SLM pay a dividend?

Yes. SLM Corporation pays a quarterly dividend of about $0.52 per share annually, a forward yield of roughly 2.39%.

What is SLM's dividend yield?

As of Oct 18, 2026, SLM's forward dividend yield is 2.39%, based on a $0.52 annual dividend and a $21.81 share price.

What is SLM's dividend per share?

As of Oct 18, 2026, SLM pays $0.52 per share per year, distributed on a quarterly basis.

What is SLM's dividend payout ratio?

As of Oct 18, 2026, SLM's payout ratio is 14% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has SLM grown its dividend?

As of Oct 18, 2026, SLM has increased its dividend for 2 consecutive years.

When is the next SLM ex-dividend date?

As of Oct 18, 2026, SLM's next ex-dividend date hasn't been announced. The most recent was Sep 4, 2026, for $0.13 per share.

Dividend Growth

Total dividends per share by year

Dividend History

Full SLM dividend history →

Ex-Date	Pay Date	Amount	Type
Sep 4, 2026	Sep 15, 2026	$0.1300	regular
Jun 4, 2026	Jun 15, 2026	$0.1300	regular
Mar 5, 2026	Mar 16, 2026	$0.1300	regular
Dec 4, 2025	Dec 15, 2025	$0.1300	regular
Sep 4, 2025	Sep 15, 2025	$0.1300	regular
Jun 5, 2025	Jun 16, 2025	$0.1300	regular
Mar 5, 2025	Mar 17, 2025	$0.1300	regular
Dec 5, 2024	Dec 16, 2024	$0.1300	regular
Sep 5, 2024	Sep 16, 2024	$0.1100	regular
Jun 6, 2024	Jun 17, 2024	$0.1100	regular
Mar 1, 2024	Mar 15, 2024	$0.1100	regular
Dec 1, 2023	Dec 15, 2023	$0.1100	regular
Aug 31, 2023	Sep 15, 2023	$0.1100	regular
Jun 1, 2023	Jun 15, 2023	$0.1100	regular