Sallie Mae 2008 Annual Report Download - page 22
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PART II.
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
The Company’s common stock is listed and traded on the New York Stock Exchange under the symbol
SLM. The number of holders of record of the Company’s common stock as of January 31, 2009 was 833. The
following table sets forth the high and low sales prices for the Company’s common stock for each full
quarterly period within the two most recent fiscal years.
Common Stock Prices
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
2008 ......................... High $23.00 $25.05 $19.81 $12.03
Low 14.70 15.45 9.37 4.19
2007 ......................... High $49.96 $57.96 $58.00 $53.65
Low 40.30 40.60 41.73 18.68
The Company paid quarterly cash dividends of $.22 for the first quarter of 2006, $.25 for the last three
quarters of 2006 and $.25 for the first quarter of 2007. There were no cash dividends paid in 2008.
Issuer Purchases of Equity Securities
The following table summarizes the Company’s common share repurchases during 2008 in connection
with the exercise of stock options and vesting of restricted stock to satisfy minimum statutory tax withholding
obligations and shares tendered by employees to satisfy option exercise costs (which combined totaled
approximately 600 thousand shares for 2008). See Note 11, “Stockholders’ Equity,” to the consolidated
financial statements.
Total Number
of Shares
Purchased
Average Price
Paid per
Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Maximum Number
of Shares that
May Yet Be
Purchased Under
the Plans or
Programs
(Common shares in millions)
Period:
January 1 – March 31, 2008 . . . .3 $19.82 — 38.8
April 1 – June 30, 2008....... .2 23.74 — 38.8
July 1 – September 30, 2008 . . . .1 19.32 — 38.8
October 1 – October 31, 2008 . . — — — 38.8
November 1 – November 30,
2008 ................... — — — 38.8
December 1 – December 31,
2008 ................... — — — 38.8
Total fourth quarter .......... — — —
Year ended December 31,
2008 ................... .6 $20.10 —
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