SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B Shares Cross 10% 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 10% mark based on its quarterly dividend (annualized to $7.3868), with shares changing hands as low as $73.80 on the day. This compares to an average yield of 6.31% in the "Financial" preferred stock category, according to Preferred Stock Channel..