SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, Crosses Above 3% Yield Territory

In trading on Monday, shares of SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (NASD: SLMBP) were yielding above the 3% mark based on its quarterly dividend (annualized to $2.0681), with shares changing hands as low as $66.52 on the day. This compares to an average yield of 4.96% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SLMBP was trading at a 29.91% discount to its liquidation preference am...